Cullen Frost Bankers Inc. Has $6.73 Million Stock Holdings in Atlassian Corporation PLC (NASDAQ:TEAM)

Cullen Frost Bankers Inc. grew its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 18.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,732 shares of the technology company's stock after acquiring an additional 4,888 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Atlassian were worth $6,734,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in TEAM. Massachusetts Financial Services Co. MA bought a new position in Atlassian in the 4th quarter worth about $687,486,000. Voya Investment Management LLC boosted its stake in Atlassian by 17,941.0% in the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock worth $528,693,000 after purchasing an additional 2,160,810 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after acquiring an additional 1,806,042 shares during the last quarter. Invesco Ltd. boosted its position in shares of Atlassian by 265.9% during the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock valued at $595,171,000 after acquiring an additional 1,777,179 shares during the last quarter. Finally, Durable Capital Partners LP lifted its position in Atlassian by 499.7% in the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock worth $383,456,000 after buying an additional 1,312,820 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Capital One Financial lowered Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price target on the stock. in a research note on Wednesday. Raymond James Financial reaffirmed an "outperform" rating and set a $300.00 target price (down previously from $330.00) on shares of Atlassian in a report on Friday, May 2nd. KeyCorp decreased their price target on Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a report on Thursday. Baird R W upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Finally, Wall Street Zen upgraded Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $279.81.

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $206.80, for a total transaction of $1,643,646.40. Following the completion of the sale, the director owned 174,856 shares in the company, valued at approximately $36,160,220.80. This represents a 4.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $222.47, for a total value of $1,768,191.56. Following the completion of the sale, the chief executive officer owned 143,064 shares of the company's stock, valued at $31,827,448.08. The trade was a 5.26% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 447,725 shares of company stock valued at $93,163,341. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Up 0.1%

NASDAQ TEAM traded up $0.17 on Thursday, hitting $190.62. 2,070,218 shares of the stock traded hands, compared to its average volume of 2,198,741. Atlassian Corporation PLC has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a market capitalization of $50.04 billion, a P/E ratio of -114.83 and a beta of 0.94. The stock has a 50-day moving average of $206.58 and a 200 day moving average of $232.29. 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 issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the company posted $0.89 EPS. The business's revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Atlassian Profile

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.