XTX Topco Ltd Increases Stock Position in Atlassian Corporation PLC (NASDAQ:TEAM)

XTX Topco Ltd lifted its position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 94.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,021 shares of the technology company's stock after acquiring an additional 6,805 shares during the quarter. XTX Topco Ltd's holdings in Atlassian were worth $2,975,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TEAM. LPL Financial LLC grew its stake in 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 acquiring an additional 24,891 shares in the last quarter. Corebridge Financial Inc. raised its stake in Atlassian by 0.3% in the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after purchasing an additional 35 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in Atlassian by 15.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 89,373 shares of the technology company's stock valued at $21,752,000 after purchasing an additional 11,960 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new position in Atlassian in the 4th quarter worth approximately $615,000. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Atlassian by 38.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,169 shares of the technology company's stock valued at $2,232,000 after buying an additional 2,547 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of the company's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $202.05, for a total value of $1,548,713.25. Following the transaction, the chief executive officer directly owned 344,925 shares in the company, valued at $69,692,096.25. This represents a 2.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $202.05, for a total transaction of $1,548,713.25. Following the transaction, the director directly owned 344,925 shares in the company, valued at approximately $69,692,096.25. This trade represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 484,635 shares of company stock worth $99,779,418. Insiders own 38.55% of the company's stock.

Atlassian Trading Down 1.4%

Shares of Atlassian stock traded down $2.87 during trading on Wednesday, hitting $197.19. The stock had a trading volume of 1,376,312 shares, compared to its average volume of 1,928,798. The stock has a market cap of $51.76 billion, a PE ratio of -118.79 and a beta of 0.94. Atlassian Corporation PLC has a 12 month low of $135.29 and a 12 month high of $326.00. The firm's fifty day simple moving average is $203.36 and its 200-day simple moving average is $229.61. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping 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 8.66% and a negative return on equity of 23.41%. The firm's quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share. As a group, sell-side analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. UBS Group reaffirmed a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. KeyCorp decreased their price target on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a research note on Thursday, July 17th. Barclays reduced their target price on shares of Atlassian from $260.00 to $244.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Jefferies Financial Group lowered their target price on Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Morgan Stanley cut their target price on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Five investment 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $274.05.

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.