Maxi Investments CY Ltd Acquires New Holdings in Atlassian Corporation PLC (NASDAQ:TEAM)

Maxi Investments CY Ltd acquired a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 26,700 shares of the technology company’s stock, valued at approximately $5,666,000. Atlassian accounts for about 1.1% of Maxi Investments CY Ltd’s holdings, making the stock its 25th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Clean Yield Group grew its position in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company’s stock valued at $25,000 after acquiring an additional 93 shares in the last quarter. Colonial Trust Co SC grew its position in Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after acquiring an additional 69 shares in the last quarter. Smithfield Trust Co grew its position in Atlassian by 90.7% in the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock valued at $34,000 after acquiring an additional 78 shares in the last quarter. GeoWealth Management LLC grew its position in Atlassian by 26.8% in the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company’s stock valued at $44,000 after acquiring an additional 38 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Atlassian by 82.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company’s stock valued at $52,000 after acquiring an additional 110 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Price Performance

TEAM stock opened at $185.69 on Tuesday. The business has a 50 day moving average price of $202.31 and a 200 day moving average price of $228.31. The stock has a market cap of $48.75 billion, a price-to-earnings ratio of -111.86 and a beta of 0.96. Atlassian Corporation PLC has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $184.43, for a total value of $1,413,655.95. Following the completion of the sale, the chief executive officer owned 314,265 shares in the company, valued at approximately $57,959,893.95. The trade was a 2.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $184.43, for a total value of $1,413,655.95. Following the completion of the sale, the director owned 314,265 shares of the company’s stock, valued at approximately $57,959,893.95. This represents a 2.38% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 499,399 shares of company stock valued at $102,317,172. 38.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Oppenheimer dropped their target price on Atlassian from $300.00 to $275.00 and set an “outperform” rating for the company in a research report on Monday, July 21st. BMO Capital Markets dropped their target price on Atlassian from $295.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. 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. Baird R W raised Atlassian from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 14th. Finally, Capital One Financial downgraded Atlassian from an “overweight” rating to an “equal weight” rating and set a $211.00 price objective for the company. in a research report on Wednesday, July 16th. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target 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.