Perpetual Ltd Grows Stock Holdings in Atlassian Corporation PLC (NASDAQ:TEAM)

Perpetual Ltd increased its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 56.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,680 shares of the technology company's stock after acquiring an additional 4,206 shares during the period. Perpetual Ltd's holdings in Atlassian were worth $2,479,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Clean Yield Group grew its holdings in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after buying an additional 93 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Atlassian in the 4th quarter worth about $27,000. Colonial Trust Co SC boosted its holdings in Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after purchasing an additional 69 shares during the period. Summit Securities Group LLC bought a new stake in Atlassian in the 4th quarter valued at about $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Atlassian during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TEAM. UBS Group reduced their price target on Atlassian from $230.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Mizuho dropped their price target on Atlassian from $325.00 to $290.00 and set an "outperform" rating for the company in a research note on Thursday, June 12th. Truist Financial reduced their target price on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Macquarie decreased their target price on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $282.19.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 7,674 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total transaction of $1,730,563.74. Following the completion of the sale, the president now directly owns 192,260 shares in the company, valued at $43,356,552.60. This represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Gene Liu sold 121 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $214.88, for a total value of $26,000.48. Following the completion of the sale, the chief accounting officer now directly owns 51,360 shares of the company's stock, valued at $11,036,236.80. The trade was a 0.24% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 388,669 shares of company stock worth $80,949,405. Insiders own 38.55% of the company's stock.

Atlassian Price Performance

Shares of TEAM stock traded up $3.82 during trading hours on Friday, reaching $202.32. The stock had a trading volume of 2,463,283 shares, compared to its average volume of 2,148,495. The stock's fifty day simple moving average is $209.79 and its 200 day simple moving average is $237.61. 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 firm has a market capitalization of $53.11 billion, a PE ratio of -121.88 and a beta of 0.96. Atlassian Corporation PLC has a 12 month low of $135.29 and a 12 month high of $326.00.

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, topping the consensus estimate of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The business's quarterly revenue was up 14.1% on a year-over-year basis. On average, equities research analysts predict 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.