Diversified Trust Co Buys 6,044 Shares of Atlassian Corporation PLC (NASDAQ:TEAM)

Diversified Trust Co raised its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 40.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 20,925 shares of the technology company’s stock after purchasing an additional 6,044 shares during the quarter. Diversified Trust Co’s holdings in Atlassian were worth $4,440,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new position in Atlassian in the fourth quarter worth $27,000. Clean Yield Group boosted its position in shares of Atlassian by 372.0% during 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 increased its stake in Atlassian by 100.0% in the fourth 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 during the period. Summit Securities Group LLC bought a new position in Atlassian during the fourth quarter worth about $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Atlassian during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Up 0.1%

NASDAQ:TEAM opened at $198.50 on Friday. The stock’s fifty day simple moving average is $209.89 and its 200-day simple moving average is $238.82. The firm has a market capitalization of $52.11 billion, a P/E ratio of -119.58 and a beta of 0.96. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its earnings results 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 company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.89 EPS. Equities research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $209.73, for a total transaction of $1,666,934.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $192.44, for a total value of $1,475,052.60. Following the completion of the transaction, the director now owns 45,990 shares of the company’s stock, valued at $8,850,315.60. This represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 388,669 shares of company stock valued at $80,949,405. Corporate insiders own 38.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TEAM. Morgan Stanley lowered their price objective on Atlassian from $370.00 to $320.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. BMO Capital Markets cut their price objective on Atlassian from $295.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Mizuho lowered their target price on shares of Atlassian from $325.00 to $290.00 and set an “outperform” rating on the stock in a report on Thursday, June 12th. Raymond James Financial reissued an “outperform” rating and set a $300.00 price target (down from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Finally, Barclays reduced their price target on shares of Atlassian from $350.00 to $260.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $282.19.

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.