Atlassian Co. (NASDAQ:TEAM) Stake Boosted by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in shares of Atlassian Co. (NASDAQ:TEAMFree Report) by 30.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,446 shares of the technology company’s stock after acquiring an additional 21,012 shares during the period. Hsbc Holdings PLC’s holdings in Atlassian were worth $21,298,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TEAM. Graypoint LLC boosted its holdings in Atlassian by 2.4% in the fourth quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock worth $424,000 after purchasing an additional 42 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in Atlassian by 1.4% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock worth $736,000 after purchasing an additional 43 shares in the last quarter. Park National Corp OH boosted its holdings in Atlassian by 3.5% in the fourth quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock worth $342,000 after purchasing an additional 48 shares in the last quarter. UMB Bank n.a. boosted its holdings in Atlassian by 5.7% in the fourth quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock worth $248,000 after purchasing an additional 56 shares in the last quarter. Finally, Personal CFO Solutions LLC boosted its holdings in Atlassian by 1.0% in the third quarter. Personal CFO Solutions LLC now owns 6,136 shares of the technology company’s stock worth $1,236,000 after purchasing an additional 59 shares in the last quarter. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Atlassian news, CAO Gene Liu sold 199 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $184.25, for a total transaction of $36,665.75. Following the sale, the chief accounting officer now directly owns 45,666 shares of the company’s stock, valued at $8,413,960.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $200.73, for a total transaction of $1,654,215.93. Following the sale, the chief executive officer now directly owns 123,615 shares of the company’s stock, valued at $24,813,238.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gene Liu sold 199 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $184.25, for a total transaction of $36,665.75. Following the sale, the chief accounting officer now directly owns 45,666 shares in the company, valued at $8,413,960.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 292,367 shares of company stock valued at $55,513,930. 40.48% of the stock is currently owned by insiders.

Atlassian Trading Down 2.2 %

NASDAQ:TEAM opened at $156.86 on Friday. Atlassian Co. has a 12-month low of $154.02 and a 12-month high of $258.69. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a 50-day moving average price of $186.12 and a 200 day moving average price of $205.14.

Atlassian (NASDAQ:TEAMGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.40) earnings per share. Equities research analysts predict that Atlassian Co. will post -0.23 earnings per share for the current year.

Analysts Set New Price Targets

TEAM has been the subject of a number of recent research reports. Oppenheimer decreased their price objective on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, April 26th. KeyCorp began coverage on shares of Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating for the company. William Blair reissued an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Mizuho cut their target price on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Finally, UBS Group cut their target price on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $223.22.

Get Our Latest Stock Analysis on Atlassian

Atlassian Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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