Hsbc Holdings PLC Purchases 12,675 Shares of Atlassian Co. (NASDAQ:TEAM)

Hsbc Holdings PLC lifted its position in Atlassian Co. (NASDAQ:TEAM) by 9.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 143,272 shares of the technology company’s stock after acquiring an additional 12,675 shares during the period. Hsbc Holdings PLC’s holdings in Atlassian were worth $25,284,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Direct Indexing L.P. grew its stake in Atlassian by 1.5% in the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock worth $721,000 after purchasing an additional 55 shares during the period. Park National Corp OH grew its position in shares of Atlassian by 4.0% in the 1st quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock worth $292,000 after buying an additional 58 shares during the period. Financial Advocates Investment Management increased its stake in shares of Atlassian by 1.7% in the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after acquiring an additional 62 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in Atlassian by 1.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock valued at $890,000 after acquiring an additional 65 shares during the period. Finally, UMB Bank n.a. boosted its stake in Atlassian by 6.8% during the first quarter. UMB Bank n.a. now owns 1,112 shares of the technology company’s stock worth $217,000 after acquiring an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Stock Down 0.0 %

TEAM stock opened at $163.08 on Friday. The company has a market cap of $42.45 billion, a price-to-earnings ratio of -258.86 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The business’s 50-day moving average is $161.99 and its two-hundred day moving average is $175.39. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.07. The firm had revenue of $1.13 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.21) EPS. As a group, analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of analyst reports. Scotiabank decreased their target price on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Capital One Financial raised Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price objective for the company in a research report on Thursday, July 11th. Robert W. Baird downgraded Atlassian from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $230.00 to $175.00 in a report on Friday, August 2nd. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Finally, Barclays dropped their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $217.69.

Insider Activity

In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the sale, the chief technology officer now owns 128,957 shares in the company, valued at approximately $18,838,038.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $176.05, for a total transaction of $1,399,245.40. The disclosure for this sale can be found here. Insiders sold a total of 239,399 shares of company stock valued at $40,189,629 in the last 90 days. Company 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.