Atlassian Corporation PLC (NASDAQ:TEAM) Stock Holdings Raised by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. increased its position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 7,161.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,133 shares of the technology company's stock after acquiring an additional 77,057 shares during the period. Crossmark Global Holdings Inc.'s holdings in Atlassian were worth $16,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TEAM. Murphy & Mullick Capital Management Corp purchased a new position in shares of Atlassian during the 4th quarter valued at about $27,000. Clean Yield Group lifted its stake in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after purchasing an additional 93 shares in the last quarter. Colonial Trust Co SC lifted its stake in Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares in the last quarter. Summit Securities Group LLC acquired a new position in Atlassian in the fourth quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Atlassian in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $225.64, for a total transaction of $1,793,386.72. Following the transaction, the chief executive officer owned 206,648 shares in the company, valued at approximately $46,628,054.72. The trade was a 3.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $206.80, for a total transaction of $1,643,646.40. Following the transaction, the director owned 174,856 shares in the company, valued at $36,160,220.80. The trade was a 4.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 402,867 shares of company stock worth $84,057,644 in the last 90 days. Company insiders own 38.55% of the company's stock.

Atlassian Trading Up 1.1%

Shares of TEAM traded up $2.35 during mid-day trading on Tuesday, reaching $218.40. The company had a trading volume of 632,345 shares, compared to its average volume of 2,153,142. The stock has a market cap of $57.33 billion, a price-to-earnings ratio of -131.16 and a beta of 0.94. The firm has a fifty day simple moving average of $209.30 and a 200-day simple moving average of $235.05. Atlassian Corporation PLC has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The business's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 EPS. On average, sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Piper Sandler reaffirmed an "overweight" rating and set a $300.00 price objective (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Wells Fargo & Company decreased their target price on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Stephens decreased their target price on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Truist Financial reduced their price objective on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, Raymond James Financial reiterated an "outperform" rating and set a $300.00 price target (down from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Atlassian has an average rating of "Moderate Buy" and a consensus target price of $282.19.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.