OneAscent Wealth Management LLC Purchases Shares of 1,293 Atlassian Corporation PLC (NASDAQ:TEAM)

OneAscent Wealth Management LLC bought a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,293 shares of the technology company's stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Massachusetts Financial Services Co. MA acquired a new position in shares of Atlassian in the 4th quarter valued at approximately $687,486,000. Voya Investment Management LLC raised its stake in shares of Atlassian by 17,941.0% during the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock worth $528,693,000 after purchasing an additional 2,160,810 shares in the last quarter. JPMorgan Chase & Co. increased its position in Atlassian by 72.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after buying an additional 1,806,042 shares during the period. Invesco Ltd. increased its position in Atlassian by 265.9% in the 4th 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 during the period. Finally, Durable Capital Partners LP increased its position in Atlassian by 499.7% in the 4th quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock worth $383,456,000 after buying an additional 1,312,820 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Stock Up 2.1%

Shares of NASDAQ TEAM traded up $4.08 during midday trading on Tuesday, reaching $198.44. 2,156,959 shares of the company's stock traded hands, compared to its average volume of 2,201,842. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock's 50 day simple moving average is $205.74 and its 200-day simple moving average is $231.41. Atlassian Corporation PLC has a one year low of $135.29 and a one year high of $326.00. The company has a market cap of $52.09 billion, a price-to-earnings ratio of -119.54 and a beta of 0.94.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data 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 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%. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 earnings per share. On average, analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $192.82, for a total value of $1,477,965.30. Following the transaction, the director directly owned 390,915 shares of the company's stock, valued at $75,376,230.30. This trade represents a 1.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $192.82, for a total transaction of $1,477,965.30. Following the sale, the chief executive officer owned 390,915 shares of the company's stock, valued at approximately $75,376,230.30. This represents a 1.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 455,107 shares of company stock worth $94,589,282. 38.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. KeyCorp dropped their price objective on Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a report on Thursday, July 17th. Capital One Financial lowered Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective on the stock. in a research note on Wednesday, July 16th. Robert W. Baird upgraded Atlassian from a "neutral" rating to an "outperform" rating and lowered their target price for the stock from $320.00 to $255.00 in a research note on Monday, April 14th. Mizuho reduced their price target on Atlassian from $290.00 to $265.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. Finally, Raymond James Financial reissued an "outperform" rating and set a $300.00 price objective (down previously from $330.00) on shares of Atlassian in a 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 issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $274.05.

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.