UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stock Position in Atlassian Co. (NASDAQ:TEAM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 13.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,373,394 shares of the technology company's stock after purchasing an additional 163,043 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.52% of Atlassian worth $334,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP increased its holdings in Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after buying an additional 47 shares in the last quarter. Slow Capital Inc. boosted its holdings in shares of Atlassian by 2.9% during the 4th quarter. Slow Capital Inc. now owns 33,879 shares of the technology company's stock valued at $8,245,000 after acquiring an additional 959 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Atlassian by 3,951.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 149,690 shares of the technology company's stock worth $36,432,000 after acquiring an additional 145,995 shares during the period. SYM FINANCIAL Corp purchased a new position in shares of Atlassian during the fourth quarter valued at approximately $230,000. Finally, LPL Financial LLC raised its holdings in shares of Atlassian by 93.4% during the fourth quarter. LPL Financial LLC now owns 51,534 shares of the technology company's stock valued at $12,542,000 after purchasing an additional 24,891 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 7,674 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total value of $1,730,563.74. Following the completion of the transaction, the president now directly owns 192,260 shares of the company's stock, valued at approximately $43,356,552.60. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $283.26, for a total transaction of $2,251,350.48. Following the completion of the sale, the director now owns 198,700 shares in the company, valued at $56,283,762. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 287,055 shares of company stock valued at $63,723,335. Insiders own 38.55% of the company's stock.

Atlassian Trading Down 2.5%

TEAM stock opened at $209.17 on Thursday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The business has a 50 day simple moving average of $213.33 and a two-hundred day simple moving average of $247.04. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $54.91 billion, a price-to-earnings ratio of -156.10 and a beta of 1.06.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $1.36 billion during 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%. The business's revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 EPS. Research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TEAM shares. KeyCorp dropped their target price on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Raymond James restated an "outperform" rating and issued a $300.00 price target (down from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. Canaccord Genuity Group cut their price objective on Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Barclays lowered their target price on Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Oppenheimer boosted their price target on Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $285.29.

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.

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