Atlassian Corporation PLC (NASDAQ:TEAM) Shares Purchased by KBC Group NV

KBC Group NV increased its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 67.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 421,204 shares of the technology company’s stock after acquiring an additional 169,492 shares during the period. KBC Group NV owned approximately 0.16% of Atlassian worth $89,384,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in Atlassian by 37.7% during the 1st quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company’s stock worth $80,000 after acquiring an additional 101 shares in the last quarter. LPL Financial LLC lifted its position in Atlassian by 93.4% during the 4th 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 in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in Atlassian during the 1st quarter worth approximately $252,000. Yousif Capital Management LLC lifted its position in Atlassian by 2.9% during the 1st quarter. Yousif Capital Management LLC now owns 2,063 shares of the technology company’s stock worth $438,000 after acquiring an additional 58 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in Atlassian during the 4th quarter worth approximately $10,805,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $229.59, for a total transaction of $1,824,781.32. Following the completion of the transaction, the chief executive officer now directly owns 222,544 shares in the company, valued at $51,093,876.96. This represents a 3.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Gene Liu sold 541 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $122,000.91. Following the transaction, the chief accounting officer now owns 51,481 shares of the company’s stock, valued at approximately $11,609,480.31. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 388,669 shares of company stock worth $80,949,405 in the last three months. 38.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on TEAM. Robert W. Baird raised Atlassian from a “neutral” rating to an “outperform” rating and reduced their price target for the stock from $320.00 to $255.00 in a research report on Monday, April 14th. Barclays cut their target price on Atlassian from $350.00 to $260.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. KeyCorp cut their target price on Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $300.00 target price (down from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Finally, Jefferies Financial Group cut their target price on Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $282.19.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $202.32 on Friday. Atlassian Corporation PLC has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $53.11 billion, a price-to-earnings ratio of -121.88 and a beta of 0.96. The business has a 50 day simple moving average of $209.79 and a 200-day simple moving average of $237.61.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 23.41% and a negative net margin of 8.66%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 EPS. As a group, equities research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

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.