70,584 Shares in 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) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 70,584 shares of the technology company’s stock, valued at approximately $12,655,000.

Other large investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its stake in shares of Atlassian by 23.0% during the third quarter. Fortitude Family Office LLC now owns 289 shares of the technology company’s stock valued at $52,000 after purchasing an additional 54 shares during the period. Activest Wealth Management lifted its position in shares of Atlassian by 372.4% during the third quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock worth $25,000 after purchasing an additional 108 shares in the last quarter. Frank Rimerman Advisors LLC lifted its position in shares of Atlassian by 3.7% during the third quarter. Frank Rimerman Advisors LLC now owns 3,228 shares of the technology company’s stock worth $579,000 after purchasing an additional 115 shares in the last quarter. Strengthening Families & Communities LLC boosted its stake in shares of Atlassian by 2.2% in the third quarter. Strengthening Families & Communities LLC now owns 5,759 shares of the technology company’s stock valued at $1,033,000 after purchasing an additional 124 shares during the period. Finally, State of Wyoming boosted its stake in shares of Atlassian by 65.7% in the first quarter. State of Wyoming now owns 449 shares of the technology company’s stock valued at $31,000 after purchasing an additional 178 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Atlassian

In related news, CFO James Chuong sold 9,054 shares of Atlassian stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $1,561,362.30. Following the sale, the chief financial officer directly owned 279,218 shares in the company, valued at $48,151,144.10. This trade represents a 3.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 337 shares of the business’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $210.00, for a total transaction of $70,770.00. Following the transaction, the chief accounting officer directly owned 55,531 shares of the company’s stock, valued at $11,661,510. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,475 shares of company stock worth $3,822,643 in the last ninety days. 37.63% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TEAM. Mizuho lifted their price target on shares of Atlassian from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, October 15th. Truist Financial upped their price objective on shares of Atlassian from $185.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a research note on Thursday, October 15th. TD Cowen lifted their target price on Atlassian from $145.00 to $180.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Barclays boosted their price target on Atlassian from $172.00 to $222.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $217.76.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $191.05 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $48.36 billion, a PE ratio of -1,005.53, a P/E/G ratio of 19.95 and a beta of 1.16. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $229.96. The business’s fifty day moving average price is $195.93 and its two-hundred day moving average price is $118.76.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.37. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. On average, research analysts expect that Atlassian Corporation PLC will post 0.69 EPS for the current year.

About Atlassian

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.