OneAscent Financial Services LLC Makes New Investment in Atlassian Corporation PLC (NASDAQ:TEAM)

OneAscent Financial Services LLC bought 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 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,176 shares of the technology company's stock, valued at approximately $890,000.

A number of other hedge funds have also recently modified their holdings of the business. Farther Finance Advisors LLC increased its stake in Atlassian by 37.7% in the 1st quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock worth $80,000 after buying an additional 101 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Atlassian by 42.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock worth $900,000 after acquiring an additional 1,259 shares during the period. Principal Financial Group Inc. raised its stake in shares of Atlassian by 350.1% during the first quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company's stock valued at $11,014,000 after acquiring an additional 40,369 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Atlassian by 47,387.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company's stock valued at $822,000 after purchasing an additional 3,791 shares during the period. Finally, Amalgamated Bank grew its stake in Atlassian by 6.1% in the first quarter. Amalgamated Bank now owns 11,360 shares of the technology company's stock worth $2,411,000 after purchasing an additional 650 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $194.86 on Monday. Atlassian Corporation PLC has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a market cap of $51.15 billion, a PE ratio of -117.39 and a beta of 0.94. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The business has a 50-day simple moving average of $206.33 and a two-hundred day simple moving average of $231.80.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. Atlassian's revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the business earned $0.89 EPS. As a group, equities analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company decreased their target price on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. KeyCorp cut their price target on Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a research note on Thursday. Canaccord Genuity Group lowered their price objective on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Jefferies Financial Group cut their target price on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, BMO Capital Markets lowered their price target on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $279.81.

Insiders Place Their Bets

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $189.37, for a total transaction of $1,451,521.05. Following the completion of the sale, the director directly owned 406,245 shares in the company, valued at approximately $76,930,615.65. The trade was a 1.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $189.37, for a total value of $1,451,521.05. Following the completion of the transaction, the chief executive officer directly owned 406,245 shares of the company's stock, valued at approximately $76,930,615.65. This trade represents a 1.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 439,777 shares of company stock worth $91,633,351 over the last three months. Corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.