Robeco Institutional Asset Management B.V. Raises Stake in Atlassian Corporation PLC (NASDAQ:TEAM)

Robeco Institutional Asset Management B.V. raised its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,956 shares of the technology company's stock after purchasing an additional 1,295 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Atlassian were worth $11,026,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TEAM. Clean Yield Group increased its position 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 purchasing an additional 93 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in Atlassian during the fourth quarter valued at approximately $27,000. Colonial Trust Co SC grew its holdings in shares of Atlassian by 100.0% in 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 bought a new position in shares of Atlassian in the fourth quarter worth approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Atlassian in the fourth quarter worth approximately $39,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $202.32 on Monday. Atlassian Corporation PLC has a twelve month low of $135.29 and a twelve month high of $326.00. The company's 50 day moving average is $209.79 and its 200 day moving average is $237.32. 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 has a market cap of $53.11 billion, a PE ratio of -121.88 and a beta of 0.96.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $1.36 billion for 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 EPS. On average, sell-side analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $222.68, for a total value of $1,769,860.64. Following the completion of the transaction, the chief executive officer now directly owns 357,660 shares of the company's stock, valued at $79,643,728.80. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Gene Liu sold 121 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were 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 owns 51,360 shares of the company's stock, valued at approximately $11,036,236.80. This represents a 0.24% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 380,721 shares of company stock worth $79,282,471. Company insiders own 38.55% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TEAM shares. Canaccord Genuity Group cut their target price on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a report 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 report on Monday, April 7th. Barclays cut their target price on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Raymond James Financial restated an "outperform" rating and issued a $300.00 target price (down previously from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Finally, KeyCorp dropped their price target on Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $282.19.

Atlassian 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.

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