Temasek Holdings Private Ltd Invests $11.90 Million in Atlassian Co. (NASDAQ:TEAM)

Temasek Holdings Private Ltd purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 48,905 shares of the technology company's stock, valued at approximately $11,902,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TEAM. True Wealth Design LLC boosted its position in shares of Atlassian by 21.6% in the fourth quarter. True Wealth Design LLC now owns 282 shares of the technology company's stock worth $69,000 after buying an additional 50 shares during the period. Toronto Dominion Bank boosted its position in shares of Atlassian by 14.6% in the fourth quarter. Toronto Dominion Bank now owns 26,405 shares of the technology company's stock worth $6,426,000 after buying an additional 3,371 shares during the period. Scientech Research LLC boosted its position in shares of Atlassian by 79.0% in the fourth quarter. Scientech Research LLC now owns 5,865 shares of the technology company's stock worth $1,427,000 after buying an additional 2,589 shares during the period. Shay Capital LLC purchased a new stake in shares of Atlassian in the fourth quarter worth about $243,000. Finally, Siemens Fonds Invest GmbH boosted its position in shares of Atlassian by 16.8% in the fourth quarter. Siemens Fonds Invest GmbH now owns 2,011 shares of the technology company's stock worth $489,000 after buying an additional 289 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $300.00 target price (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Truist Financial reduced their price target on Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a report on Monday, March 31st. UBS Group cut their price objective on Atlassian from $230.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Mizuho upped their price objective on Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Finally, Canaccord Genuity Group cut their price objective on Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $285.29.

Atlassian Stock Performance

TEAM traded down $5.32 during trading hours on Wednesday, hitting $209.17. The company's stock had a trading volume of 1,718,039 shares, compared to its average volume of 2,107,664. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $54.91 billion, a PE ratio of -156.10 and a beta of 1.06. The company has a 50-day simple moving average of $213.33 and a 200 day simple moving average of $247.04.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same period last year, the firm earned $0.89 EPS. The firm's revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Insider Buying and Selling at Atlassian

In other news, 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 transaction 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. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $297.51, for a total value of $2,364,609.48. Following the sale, the chief executive officer now directly owns 214,596 shares of the company's stock, valued at approximately $63,844,455.96. This represents a 3.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 295,003 shares of company stock valued at $66,087,944. 38.55% of the stock is owned by corporate insiders.

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.