Atlassian Corporation PLC (NASDAQ:TEAM) Shares Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,207 shares of the technology company's stock after purchasing an additional 4,340 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH's holdings in Atlassian were worth $22,963,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Teacher Retirement System of Texas acquired a new position in Atlassian during the fourth quarter worth $2,297,000. LPL Financial LLC raised its position in Atlassian by 93.4% during the fourth quarter. LPL Financial LLC now owns 51,534 shares of the technology company's stock worth $12,542,000 after acquiring an additional 24,891 shares during the period. Corebridge Financial Inc. raised its position in Atlassian by 0.3% during the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock worth $2,555,000 after acquiring an additional 35 shares during the period. Prudential Financial Inc. raised its position in Atlassian by 714.1% during the fourth quarter. Prudential Financial Inc. now owns 40,430 shares of the technology company's stock worth $9,705,000 after acquiring an additional 35,464 shares during the period. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Atlassian during the fourth quarter worth $27,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TEAM shares. Truist Financial reduced their target price on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Oppenheimer lowered their target price on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a research note on Monday. Stephens lowered their target price on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Finally, Mizuho lowered their target price on shares of Atlassian from $290.00 to $265.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Five research 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 company. According to MarketBeat.com, Atlassian presently has an average rating of "Moderate Buy" and a consensus price target of $274.05.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $202.78, for a total transaction of $1,554,308.70. Following the sale, the director owned 367,920 shares of the company's stock, valued at approximately $74,606,817.60. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $202.78, for a total transaction of $1,554,308.70. Following the completion of the transaction, the chief executive officer directly owned 367,920 shares in the company, valued at $74,606,817.60. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 469,871 shares of company stock worth $97,195,068. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Up 1.6%

TEAM stock traded up $3.17 during midday trading on Friday, reaching $203.00. 1,122,031 shares of the company were exchanged, compared to its average volume of 2,314,874. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. Atlassian Corporation PLC has a 1-year low of $135.29 and a 1-year high of $326.00. The stock's 50-day simple moving average is $204.25 and its 200 day simple moving average is $230.61. The company has a market cap of $53.29 billion, a price-to-earnings ratio of -122.29 and a beta of 0.94.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter last year, the company earned $0.89 earnings per share. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share 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.