Universal Beteiligungs und Servicegesellschaft mbH Purchases 7,874 Shares of Atlassian Corporation PLC $TEAM

Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,546 shares of the technology company’s stock after purchasing an additional 7,874 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Atlassian were worth $19,120,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TEAM. DNB Asset Management AS increased its stake in Atlassian by 266.6% in the 3rd quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock worth $448,260,000 after buying an additional 2,041,210 shares during the period. Vanguard Group Inc. increased its stake in Atlassian by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock worth $2,951,186,000 after buying an additional 1,049,483 shares during the period. Voyager Global Management LP increased its stake in Atlassian by 181.8% in the 3rd quarter. Voyager Global Management LP now owns 1,550,000 shares of the technology company’s stock worth $247,535,000 after buying an additional 1,000,000 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in Atlassian in the 3rd quarter worth about $106,461,000. Finally, Danica Pension Livsforsikringsaktieselskab purchased a new position in Atlassian in the 3rd quarter worth about $103,330,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insiders Place Their Bets

In other news, CRO Brian Duffy sold 1,222 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $81.35, for a total value of $99,409.70. Following the sale, the executive directly owned 124,332 shares in the company, valued at approximately $10,114,408.20. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $94.81, for a total transaction of $726,718.65. Following the completion of the sale, the director owned 275,940 shares in the company, valued at $26,161,871.40. This represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 97,993 shares of company stock worth $11,340,805. Insiders own 36.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Oppenheimer reduced their price target on shares of Atlassian from $150.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, April 17th. TD Cowen reduced their price target on shares of Atlassian from $140.00 to $85.00 and set a “hold” rating on the stock in a research note on Thursday, April 16th. Jefferies Financial Group set a $150.00 price target on shares of Atlassian in a research note on Friday, February 6th. Wolfe Research reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Atlassian in a research note on Thursday, March 12th. Finally, Robert W. Baird set a $140.00 price target on shares of Atlassian in a research note on Friday, February 6th. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.11.

Atlassian Stock Up 5.8%

Shares of Atlassian stock opened at $71.55 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $242.00. The firm’s 50-day moving average is $72.01 and its two-hundred day moving average is $120.30. The stock has a market cap of $18.87 billion, a price-to-earnings ratio of -99.37 and a beta of 0.99.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Friday, February 6th. The technology company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the business earned $0.96 EPS. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, research analysts expect that Atlassian Corporation PLC will post -0.01 earnings per share for the current fiscal year.

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.