Vinva Investment Management Ltd Purchases 673 Shares of Atlassian Co. (NASDAQ:TEAM)

Vinva Investment Management Ltd boosted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 11.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,698 shares of the technology company’s stock after acquiring an additional 673 shares during the quarter. Vinva Investment Management Ltd’s holdings in Atlassian were worth $1,080,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Asset Dedication LLC lifted its position in Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Trust Co. of Vermont lifted its position in Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC acquired a new position in Atlassian during the 2nd quarter valued at about $36,000. GAMMA Investing LLC lifted its position in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares during the period. Finally, Reston Wealth Management LLC acquired a new position in Atlassian during the 3rd quarter valued at about $48,000. Institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of research reports. Mizuho increased their price target on shares of Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. KeyCorp upgraded shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target on the stock in a research report on Friday, November 1st. Barclays cut their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. BMO Capital Markets increased their price target on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group increased their target price on Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $244.21.

Insider Buying and Selling at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $163.81, for a total transaction of $1,301,961.88. Following the completion of the sale, the director now owns 151,012 shares of the company’s stock, valued at approximately $24,737,275.72. This trade represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction 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 directly owns 143,966 shares of the company’s stock, valued at $23,482,294.26. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 257,694 shares of company stock valued at $50,560,726 in the last quarter. 38.55% of the stock is currently owned by insiders.

Atlassian Price Performance

NASDAQ:TEAM opened at $263.58 on Friday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $269.40. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a fifty day simple moving average of $206.56 and a 200 day simple moving average of $179.85. The stock has a market capitalization of $68.64 billion, a PE ratio of -173.41 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted ($0.07) EPS. The company’s quarterly revenue was up 21.5% on a year-over-year basis. On average, research analysts expect that Atlassian Co. will post -0.54 EPS for the current fiscal year.

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.