abrdn plc Buys 863 Shares of Atlassian Co. (NASDAQ:TEAM)

abrdn plc grew its stake in shares of Atlassian Co. (NASDAQ:TEAM – Get Rating) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,450 shares of the technology company’s stock after purchasing an additional 863 shares during the period. abrdn plc’s holdings in Atlassian were worth $1,473,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Citizens Financial Group Inc RI bought a new position in Atlassian during the fourth quarter valued at approximately $491,000. Nicholas Company Inc. bought a new position in Atlassian during the fourth quarter valued at approximately $9,423,000. Cibc World Markets Corp lifted its position in Atlassian by 269.2% during the fourth quarter. Cibc World Markets Corp now owns 73,839 shares of the technology company’s stock valued at $9,502,000 after purchasing an additional 53,839 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Atlassian by 31.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 120,692 shares of the technology company’s stock valued at $15,531,000 after purchasing an additional 28,880 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its position in Atlassian by 99.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,169 shares of the technology company’s stock valued at $150,000 after purchasing an additional 584 shares during the period. Institutional investors own 45.50% of the company’s stock.

Atlassian Stock Up 0.8 %

Shares of TEAM opened at $160.64 on Thursday. The stock has a market capitalization of $41.29 billion, a PE ratio of -77.60 and a beta of 0.82. Atlassian Co. has a 1 year low of $113.86 and a 1 year high of $300.29. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.31 and a current ratio of 1.31. The company’s 50-day simple moving average is $153.05 and its 200-day simple moving average is $149.42.

Atlassian (NASDAQ:TEAM – Get Rating) last released its earnings results on Thursday, May 4th. The technology company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.15). The firm had revenue of $915.45 million for the quarter, compared to analysts’ expectations of $898.71 million. Atlassian had a negative return on equity of 79.71% and a negative net margin of 15.89%. Analysts forecast that Atlassian Co. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays lowered their price objective on shares of Atlassian from $155.00 to $130.00 in a research report on Sunday, May 7th. BMO Capital Markets reduced their target price on shares of Atlassian from $190.00 to $155.00 in a report on Friday, May 5th. StockNews.com started coverage on shares of Atlassian in a report on Thursday, May 18th. They set a “hold” rating for the company. Robert W. Baird reduced their target price on shares of Atlassian from $190.00 to $175.00 in a report on Friday, May 5th. Finally, The Goldman Sachs Group cut shares of Atlassian from a “buy” rating to a “neutral” rating and reduced their target price for the company from $240.00 to $165.00 in a report on Friday, May 5th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $197.74.

Insider Transactions at Atlassian

In related news, Director Enrique T. Salem sold 10,000 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $130.00, for a total transaction of $1,300,000.00. Following the completion of the sale, the director now directly owns 124,162 shares of the company’s stock, valued at $16,141,060. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Scott Farquhar sold 8,614 shares of Atlassian stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $164.18, for a total transaction of $1,414,246.52. Following the completion of the sale, the chief executive officer now owns 180,894 shares in the company, valued at approximately $29,699,176.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Enrique T. Salem sold 10,000 shares of Atlassian stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $130.00, for a total value of $1,300,000.00. Following the sale, the director now owns 124,162 shares of the company’s stock, valued at approximately $16,141,060. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 322,726 shares of company stock worth $49,595,254. Insiders own 43.11% of the company’s stock.

Atlassian Company Profile

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Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.