Atlassian Corporation PLC (NASDAQ:TEAM) Position Raised by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 7.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,074 shares of the technology company's stock after buying an additional 2,027 shares during the period. IFM Investors Pty Ltd's holdings in Atlassian were worth $6,594,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Atlassian during the fourth quarter worth about $687,486,000. Invesco Ltd. grew its holdings in shares of Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after buying an additional 1,777,179 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Atlassian by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock worth $528,851,000 after buying an additional 27,899 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Atlassian by 17,941.0% during the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock worth $528,693,000 after buying an additional 2,160,810 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $213.97, for a total transaction of $1,640,080.05. Following the sale, the director directly owned 467,565 shares in the company, valued at $100,044,883.05. The trade was a 1.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $213.97, for a total transaction of $1,640,080.05. Following the sale, the chief executive officer owned 467,565 shares in the company, valued at approximately $100,044,883.05. This represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 410,815 shares of company stock worth $85,532,872. Corporate insiders own 38.55% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on TEAM. UBS Group lowered their target price on shares of Atlassian from $230.00 to $215.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Mizuho decreased their price target on shares of Atlassian from $325.00 to $290.00 and set an "outperform" rating for the company in a research report on Thursday, June 12th. Barclays decreased their target price on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, 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. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $282.19.

Atlassian Stock Performance

TEAM stock traded up $6.65 during mid-day trading on Friday, reaching $213.43. The company had a trading volume of 1,566,326 shares, compared to its average volume of 2,159,036. The stock has a market capitalization of $56.03 billion, a P/E ratio of -128.57 and a beta of 0.94. The stock's 50-day simple moving average is $209.58 and its two-hundred day simple moving average is $235.45. Atlassian Corporation PLC has a one year low of $135.29 and a one year high of $326.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72.

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

Atlassian Company 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.