China Universal Asset Management Co. Ltd. Has $1.31 Million Stake in Atlassian Corporation PLC $TEAM

China Universal Asset Management Co. Ltd. reduced its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 41.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,452 shares of the technology company’s stock after selling 4,498 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Atlassian were worth $1,310,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Capco Asset Management LLC bought a new position in Atlassian during the second quarter worth $25,000. Geneos Wealth Management Inc. lifted its stake in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares during the last quarter. State of Wyoming boosted its holdings in shares of Atlassian by 20.3% during the 1st quarter. State of Wyoming now owns 278 shares of the technology company’s stock worth $59,000 after buying an additional 47 shares during the period. Virtus Advisers LLC acquired a new position in Atlassian in the 2nd quarter valued at about $61,000. Finally, First Horizon Advisors Inc. grew its stake in Atlassian by 40.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 374 shares of the technology company’s stock valued at $76,000 after buying an additional 107 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company initiated coverage on Atlassian in a report on Tuesday, September 30th. They set an “overweight” rating and a $216.00 price objective for the company. BMO Capital Markets lifted their price target on Atlassian from $190.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Sanford C. Bernstein upped their price objective on Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Guggenheim assumed coverage on Atlassian in a research report on Thursday, September 11th. They set a “buy” rating and a $225.00 price objective on the stock. Finally, Wall Street Zen raised shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $240.00.

Atlassian Stock Down 0.7%

TEAM stock opened at $162.04 on Monday. Atlassian Corporation PLC has a 52 week low of $139.70 and a 52 week high of $326.00. The business has a 50-day simple moving average of $155.86 and a 200 day simple moving average of $175.26. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The company has a market cap of $42.63 billion, a PE ratio of -228.22, a price-to-earnings-growth ratio of 30.56 and a beta of 0.89.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.21. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. Sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $166.36, for a total transaction of $1,275,149.40. Following the completion of the transaction, the director owned 7,665 shares of the company’s stock, valued at approximately $1,275,149.40. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 9,847 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $152.46, for a total value of $1,501,273.62. Following the completion of the sale, the president directly owned 242,092 shares in the company, valued at $36,909,346.32. This trade represents a 3.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 565,851 shares of company stock worth $89,061,922 over the last three months. Corporate insiders own 36.66% of the company’s stock.

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.