70,584 Shares of Atlassian Corporation PLC $TEAM Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 70,584 shares of the technology company’s stock, valued at approximately $12,655,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vise Technologies Inc. acquired a new position in Atlassian during the third quarter worth $2,916,000. Americana Partners LLC purchased a new stake in Atlassian in the 3rd quarter valued at $403,000. Left Brain Wealth Management LLC purchased a new stake in Atlassian in the 3rd quarter valued at $269,000. Parcion Private Wealth LLC increased its stake in shares of Atlassian by 32.9% in the 3rd quarter. Parcion Private Wealth LLC now owns 7,639 shares of the technology company’s stock worth $1,370,000 after acquiring an additional 1,893 shares during the last quarter. Finally, Soltis Investment Advisors LLC increased its stake in shares of Atlassian by 16.6% in the 3rd quarter. Soltis Investment Advisors LLC now owns 5,258 shares of the technology company’s stock worth $943,000 after acquiring an additional 750 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

TEAM stock opened at $191.05 on Wednesday. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $229.96. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. The stock has a market cap of $48.36 billion, a price-to-earnings ratio of -1,005.53, a price-to-earnings-growth ratio of 19.95 and a beta of 1.16. The business has a fifty day moving average of $195.93 and a two-hundred day moving average of $118.76.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.37. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The firm’s quarterly revenue was up 27.6% on a year-over-year basis. During the same quarter last year, the company posted $0.98 EPS. As a group, research analysts anticipate that Atlassian Corporation PLC will post 0.69 earnings per share for the current year.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 1,125 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $175.00, for a total value of $196,875.00. Following the completion of the transaction, the chief accounting officer owned 56,807 shares of the company’s stock, valued at $9,941,225. This trade represents a 1.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Brian Duffy sold 7,617 shares of Atlassian stock in a transaction on Friday, August 14th. The shares were sold at an average price of $163.00, for a total value of $1,241,571.00. Following the completion of the transaction, the executive owned 220,074 shares of the company’s stock, valued at approximately $35,872,062. This trade represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 22,475 shares of company stock valued at $3,822,643. 37.63% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TEAM. Mizuho lifted their price target on Atlassian from $215.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, October 15th. Wells Fargo & Company upped their price objective on shares of Atlassian from $230.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. KeyCorp raised their price objective on shares of Atlassian from $185.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, October 19th. Cantor Fitzgerald lifted their target price on shares of Atlassian from $220.00 to $252.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Wall Street Zen upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. Twenty-three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $217.76.

Atlassian Company Profile

Atlassian Corporation develops collaboration, project-management and workflow software for technology, business and service teams. Its products are designed to help organizations plan projects, manage software development, coordinate work and share knowledge across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for team collaboration and knowledge management, Jira Service Management for IT and enterprise service workflows, Trello for organizing tasks and projects, Loom for video messaging and screen recording, and Bitbucket for source-code management and collaboration.