Cwm LLC Buys 13,248 Shares of Atlassian Corporation PLC (NASDAQ:TEAM)

Cwm LLC raised its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 111.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,137 shares of the technology company's stock after purchasing an additional 13,248 shares during the quarter. Cwm LLC's holdings in Atlassian were worth $5,334,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Atlassian in the 4th quarter valued at about $9,429,000. Envestnet Portfolio Solutions Inc. increased its holdings in Atlassian by 9.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,022 shares of the technology company's stock worth $2,439,000 after acquiring an additional 865 shares in the last quarter. Parallel Advisors LLC boosted its stake in Atlassian by 3.9% during the 4th quarter. Parallel Advisors LLC now owns 1,702 shares of the technology company's stock worth $414,000 after purchasing an additional 64 shares during the last quarter. Xponance Inc. boosted its position in shares of Atlassian by 7.8% during the 4th quarter. Xponance Inc. now owns 29,986 shares of the technology company's stock valued at $7,298,000 after acquiring an additional 2,169 shares during the last quarter. Finally, Vinva Investment Management Ltd increased its stake in Atlassian by 234.6% during the fourth quarter. Vinva Investment Management Ltd now owns 22,409 shares of the technology company's stock worth $5,537,000 after purchasing an additional 15,711 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the company's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $192.06, for a total value of $1,472,139.90. Following the transaction, the chief executive officer owned 421,575 shares in the company, valued at approximately $80,967,694.50. This represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $192.06, for a total transaction of $1,472,139.90. Following the sale, the director directly owned 421,575 shares in the company, valued at $80,967,694.50. The trade was a 1.79% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 432,395 shares of company stock worth $90,260,299. Company insiders own 38.55% of the company's stock.

Atlassian Stock Up 1.5%

NASDAQ TEAM opened at $190.45 on Thursday. The stock has a fifty day moving average of $206.93 and a 200-day moving average of $232.68. The stock has a market capitalization of $50.00 billion, a P/E ratio of -114.73 and a beta of 0.94. Atlassian Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the previous year, the firm earned $0.89 earnings per share. The company's revenue was up 14.1% on a year-over-year basis. On average, equities research analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TEAM shares. Stephens lowered their price target on Atlassian from $255.00 to $221.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. Baird R W upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Canaccord Genuity Group cut their target price on Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Macquarie lowered their price target on Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Wells Fargo & Company reduced their price target on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $281.00.

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.

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