Atlassian Corporation PLC $TEAM Position Raised by Maxi Investments CY Ltd

Maxi Investments CY Ltd grew its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 327.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,000 shares of the technology company’s stock after acquiring an additional 58,200 shares during the quarter. Atlassian comprises about 1.0% of Maxi Investments CY Ltd’s investment portfolio, making the stock its 7th biggest holding. Maxi Investments CY Ltd’s holdings in Atlassian were worth $12,137,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its holdings in shares of Atlassian by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock valued at $1,153,000 after buying an additional 2,267 shares during the period. Empowered Funds LLC grew its holdings in shares of Atlassian by 39.5% in the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock worth $995,000 after acquiring an additional 1,328 shares during the period. Focus Partners Wealth increased its position in Atlassian by 32.6% during the first quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock valued at $875,000 after acquiring an additional 1,014 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after acquiring an additional 161 shares during the period. Finally, Sivia Capital Partners LLC lifted its holdings in Atlassian by 27.5% in the second quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock valued at $380,000 after acquiring an additional 404 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

TEAM has been the subject of a number of recent research reports. Sanford C. Bernstein boosted their price target on Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Wells Fargo & Company lowered their price objective on shares of Atlassian from $216.00 to $155.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Zacks Research downgraded shares of Atlassian from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th. Jefferies Financial Group set a $150.00 target price on shares of Atlassian in a research report on Friday, February 6th. Finally, Barclays reduced their target price on shares of Atlassian from $215.00 to $165.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Twenty-two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $181.78.

Atlassian Stock Performance

Shares of TEAM opened at $76.17 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.62. The business has a 50-day simple moving average of $102.63 and a two-hundred day simple moving average of $140.03. The stock has a market cap of $20.09 billion, a price-to-earnings ratio of -105.79 and a beta of 0.94. Atlassian Corporation PLC has a 52 week low of $67.85 and a 52 week high of $242.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, February 5th. The technology company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.96 EPS. On average, analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Insider Activity at Atlassian

In other news, Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $94.81, for a total value of $726,718.65. Following the completion of the sale, the director directly owned 275,940 shares of the company’s stock, valued at $26,161,871.40. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Brian Duffy sold 1,222 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $81.35, for a total transaction of $99,409.70. Following the completion of the sale, the executive directly owned 124,332 shares of the company’s stock, valued at approximately $10,114,408.20. This trade represents a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 327,943 shares of company stock worth $45,665,135 in the last 90 days. Insiders own 36.66% of the company’s stock.

Atlassian Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.