Atlassian Co. (NASDAQ:TEAM) Holdings Raised by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. boosted its position in Atlassian Co. (NASDAQ:TEAM) by 349.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,128 shares of the technology company’s stock after purchasing an additional 7,098 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Atlassian were worth $2,222,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TEAM. Thrivent Financial for Lutherans bought a new stake in shares of Atlassian during the 2nd quarter worth $677,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Atlassian in the second quarter worth approximately $407,000. Quarry LP boosted its stake in shares of Atlassian by 143.8% during the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after buying an additional 220 shares during the period. Truist Financial Corp boosted its position in Atlassian by 2.5% during the second quarter. Truist Financial Corp now owns 84,358 shares of the technology company’s stock valued at $14,921,000 after purchasing an additional 2,050 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in Atlassian in the second quarter valued at about $1,022,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Buying and Selling

In related news, CAO Gene Liu sold 445 shares of Atlassian stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $230.00, for a total transaction of $102,350.00. Following the completion of the transaction, the chief accounting officer now directly owns 58,723 shares of the company’s stock, valued at $13,506,290. This trade represents a 0.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $270.63, for a total transaction of $2,150,967.24. Following the completion of the transaction, the director now owns 333,816 shares in the company, valued at approximately $90,340,624.08. This trade represents a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 257,156 shares of company stock valued at $65,313,573 over the last quarter. Corporate insiders own 38.55% of the company’s stock.

Atlassian Trading Up 14.9 %

Shares of NASDAQ:TEAM opened at $306.78 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $324.37. The business’s 50 day moving average is $260.51 and its 200-day moving average is $208.06.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. As a group, sell-side analysts expect that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TEAM shares. Robert W. Baird raised their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Truist Financial restated a “buy” rating and set a $350.00 price target (up previously from $300.00) on shares of Atlassian in a research note on Friday. Macquarie began coverage on shares of Atlassian in a research note on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price objective for the company. William Blair reissued an “outperform” rating on shares of Atlassian in a research report on Friday. Finally, Citigroup boosted their price target on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.00.

About Atlassian

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.