Krane Funds Advisors LLC Acquires Shares of 1,541 Atlassian Corporation PLC (NASDAQ:TEAM)

Krane Funds Advisors LLC acquired a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,541 shares of the technology company's stock, valued at approximately $327,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TEAM. Principal Financial Group Inc. increased its position in shares of Atlassian by 7.1% in the 4th quarter. Principal Financial Group Inc. now owns 11,531 shares of the technology company's stock valued at $2,806,000 after acquiring an additional 761 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of Atlassian by 23.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,192 shares of the technology company's stock valued at $533,000 after acquiring an additional 421 shares during the period. SVB Wealth LLC acquired a new stake in Atlassian during the 4th quarter worth about $490,000. Smartleaf Asset Management LLC grew its position in Atlassian by 52.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 642 shares of the technology company's stock worth $159,000 after purchasing an additional 222 shares during the period. Finally, Jones Financial Companies Lllp grew its position in Atlassian by 51.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,227 shares of the technology company's stock worth $299,000 after purchasing an additional 417 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Trading Up 3.2%

Atlassian stock traded up $6.65 during trading on Friday, hitting $213.43. The company had a trading volume of 1,566,326 shares, compared to its average volume of 2,154,153. Atlassian Corporation PLC has a 1-year low of $135.29 and a 1-year 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. The company's 50 day simple moving average is $209.88 and its 200-day simple moving average is $235.94. The stock has a market cap of $56.03 billion, a price-to-earnings ratio of -128.57 and a beta of 0.94.

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 firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 EPS. As a group, analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TEAM. Piper Sandler reaffirmed an "overweight" rating and set a $300.00 price target (down from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and cut their price target for the stock from $304.00 to $272.00 in a research report on Wednesday, April 2nd. BMO Capital Markets dropped their target price on Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research 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. Finally, Wells Fargo & Company dropped their target price on Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Atlassian currently has a consensus rating of "Moderate Buy" and a consensus target price of $282.19.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $225.64, for a total value of $1,793,386.72. Following the completion of the transaction, the chief executive officer owned 206,648 shares in the company, valued at $46,628,054.72. The trade was a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $211.30, for a total transaction of $1,679,412.40. Following the completion of the transaction, the director owned 190,752 shares of the company's stock, valued at approximately $40,305,897.60. This trade represents a 4.00% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 410,815 shares of company stock valued at $85,532,872. Insiders own 38.55% of the company's stock.

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.