Cumberland Partners Ltd bought a new stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,750 shares of the technology company's stock, valued at approximately $1,857,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of TEAM. Orion Portfolio Solutions LLC acquired a new position in Atlassian in the fourth quarter valued at approximately $615,000. O Shaughnessy Asset Management LLC boosted its stake in Atlassian by 38.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,169 shares of the technology company's stock valued at $2,232,000 after acquiring an additional 2,547 shares during the period. Alliancebernstein L.P. boosted its stake in Atlassian by 128.7% in the fourth quarter. Alliancebernstein L.P. now owns 143,260 shares of the technology company's stock valued at $34,867,000 after acquiring an additional 80,622 shares during the period. Franklin Resources Inc. boosted its stake in Atlassian by 9.9% in the fourth quarter. Franklin Resources Inc. now owns 73,275 shares of the technology company's stock valued at $17,834,000 after acquiring an additional 6,587 shares during the period. Finally, HighPoint Advisor Group LLC boosted its stake in Atlassian by 7.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,016 shares of the technology company's stock valued at $247,000 after acquiring an additional 68 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.
Atlassian Price Performance
NASDAQ TEAM opened at $182.96 on Friday. Atlassian Corporation PLC has a 12 month low of $135.29 and a 12 month high of $326.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $48.03 billion, a PE ratio of -110.22 and a beta of 0.96. The company's 50 day simple moving average is $202.31 and its 200 day simple moving average is $228.64.
Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating analysts' consensus estimates 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 revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the business earned $0.89 earnings per share. As a group, equities research analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the company. Canaccord Genuity Group decreased their target price on Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Macquarie decreased their target price on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. UBS Group restated a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. Finally, BMO Capital Markets dropped their price target on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $274.05.
Get Our Latest Stock Analysis on TEAM
Insider Activity at Atlassian
In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $221.41, for a total value of $1,759,766.68. Following the transaction, the chief executive officer owned 111,272 shares in the company, valued at approximately $24,636,733.52. The trade was a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $214.92, for a total transaction of $1,708,184.16. Following the completion of the transaction, the director owned 103,324 shares in the company, valued at approximately $22,206,394.08. This trade represents a 7.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 492,017 shares of company stock worth $101,133,506. 38.55% of the stock is currently owned by company insiders.
Atlassian Company Profile
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Free Report)
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.
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