Atlassian Co. (NASDAQ:TEAM) Position Raised by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA raised its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 131.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 29,099 shares of the technology company's stock after acquiring an additional 16,521 shares during the period. Union Bancaire Privee UBP SA's holdings in Atlassian were worth $6,041,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC raised its stake in shares of Atlassian by 39.6% during the 4th quarter. Empowered Funds LLC now owns 3,361 shares of the technology company's stock valued at $818,000 after purchasing an additional 953 shares during the period. Savant Capital LLC bought a new stake in Atlassian in the 4th quarter worth approximately $248,000. Essex Financial Services Inc. increased its position in shares of Atlassian by 10.9% during the 4th quarter. Essex Financial Services Inc. now owns 1,244 shares of the technology company's stock valued at $303,000 after purchasing an additional 122 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Atlassian in the fourth quarter valued at about $290,000. Finally, Gladstone Institutional Advisory LLC purchased a new stake in shares of Atlassian during the 4th quarter worth $577,000. Institutional investors own 94.45% of the company's stock.

Atlassian Trading Down 1.1%

TEAM stock traded down $2.18 during midday trading on Thursday, reaching $199.32. The stock had a trading volume of 2,687,528 shares, compared to its average volume of 2,119,766. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market cap of $52.32 billion, a price-to-earnings ratio of -148.75 and a beta of 0.96. The business has a fifty day simple moving average of $210.19 and a two-hundred day simple moving average of $243.79.

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

Insider Activity

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $216.90, for a total transaction of $1,723,921.20. Following the transaction, the chief executive officer now owns 71,532 shares in the company, valued at approximately $15,515,290.80. This represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 121 shares of Atlassian stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 336,429 shares of company stock worth $71,774,377 over the last three months. 38.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Canaccord Genuity Group dropped their price objective on Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $300.00 price objective (down from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. KeyCorp lowered their price target on Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Stephens reduced their target price on Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Finally, Cantor Fitzgerald upgraded Atlassian from a "neutral" rating to an "overweight" rating and decreased their price target for the stock from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $282.19.

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.