5,100 Shares in Atlassian Co. (NASDAQ:TEAM) Purchased by Polianta Ltd

Polianta Ltd bought a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,100 shares of the technology company's stock, valued at approximately $1,082,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new position in Atlassian in the 4th quarter worth approximately $27,000. Clean Yield Group increased its stake in shares of Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after acquiring an additional 93 shares during the period. Colonial Trust Co SC raised its holdings in shares of Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares during the last quarter. Summit Securities Group LLC acquired a new position in Atlassian during the fourth quarter valued at $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Atlassian in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Activity

In related news, CAO Gene Liu sold 541 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $122,000.91. Following the completion of the sale, the chief accounting officer now directly owns 51,481 shares of the company's stock, valued at approximately $11,609,480.31. This trade represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $234.38, for a total transaction of $1,862,852.24. Following the completion of the sale, the director now owns 39,740 shares in the company, valued at approximately $9,314,261.20. This trade represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 336,429 shares of company stock valued at $71,774,377. 38.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $304.00 to $272.00 in a report on Wednesday, April 2nd. Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Wells Fargo & Company lowered their price target on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Raymond James reiterated an "outperform" rating and issued a $300.00 price objective (down previously from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Finally, Morgan Stanley dropped their target price on Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Four investment 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $282.19.

Atlassian Trading Down 1.3%

Shares of NASDAQ TEAM traded down $2.50 during trading on Friday, hitting $196.82. 1,899,963 shares of the company were exchanged, compared to its average volume of 2,120,412. The company has a fifty day moving average price of $210.45 and a 200-day moving average price of $243.37. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $51.67 billion, a PE ratio of -146.88 and a beta of 0.96. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Atlassian's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 earnings per share. As a group, equities research analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

About Atlassian

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.