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

China Universal Asset Management Co. Ltd. lowered its position in shares of Atlassian Co. (NASDAQ:TEAM) by 80.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,030 shares of the technology company’s stock after selling 8,428 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Atlassian were worth $322,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Asset Dedication LLC lifted its holdings in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. Hollencrest Capital Management raised its position in Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares during the period. Trust Co. of Vermont raised its position in Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after buying an additional 174 shares during the period. Rothschild Investment LLC purchased a new stake in Atlassian in the 2nd quarter worth about $36,000. Finally, GAMMA Investing LLC boosted its position in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Price Performance

NASDAQ TEAM opened at $190.44 on Thursday. The company has a market cap of $49.57 billion, a P/E ratio of -302.29 and a beta of 0.73. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a fifty day simple moving average of $170.72 and a 200 day simple moving average of $170.98.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.21) earnings per share. On average, sell-side analysts predict that Atlassian Co. will post -0.58 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JMP Securities raised shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Truist Financial cut their target price on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Scotiabank lowered their price target on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Oppenheimer reiterated an “outperform” rating and set a $230.00 price objective on shares of Atlassian in a report on Monday, September 23rd. Finally, Morgan Stanley boosted their target price on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $212.47.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the sale, the president now owns 143,966 shares of the company’s stock, valued at $23,482,294.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CTO Rajeev Bashyam Rajan sold 199 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the transaction, the chief technology officer now owns 128,957 shares in the company, valued at approximately $18,838,038.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 230,185 shares of company stock valued at $38,775,509. Insiders own 40.48% of the company’s stock.

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.