Fmr LLC Acquires 150,237 Shares of Atlassian Co. (NASDAQ:TEAM)

Fmr LLC raised its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 7.4% in the third quarter, Holdings Channel.com reports. The firm owned 2,182,980 shares of the technology company’s stock after purchasing an additional 150,237 shares during the period. Fmr LLC’s holdings in Atlassian were worth $346,679,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Asset Dedication LLC increased 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 buying an additional 108 shares in the last quarter. Trust Co. of Vermont grew its stake in shares of Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after acquiring an additional 174 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Atlassian during the second quarter valued at $36,000. GAMMA Investing LLC raised its position in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the last quarter. Finally, Reston Wealth Management LLC purchased a new position in shares of Atlassian in the 3rd quarter worth about $48,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on TEAM shares. Morgan Stanley raised their price objective on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Truist Financial boosted their price objective on shares of Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Friday, November 1st. KeyCorp raised Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective on the stock in a research report on Friday, November 1st. Wells Fargo & Company lifted their target price on Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Scotiabank upped their price target on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $244.21.

Insider Transactions at Atlassian

In related news, CAO Gene Liu sold 165 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the completion of the sale, the chief accounting officer now owns 56,423 shares in the company, valued at approximately $13,871,030.32. This trade represents a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $163.81, for a total value of $1,301,961.88. Following the sale, the director now directly owns 151,012 shares in the company, valued at $24,737,275.72. This trade represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 257,694 shares of company stock valued at $50,560,726 over the last three months. Corporate insiders own 38.55% of the company’s stock.

Atlassian Price Performance

Shares of Atlassian stock opened at $263.58 on Friday. The stock has a market cap of $68.64 billion, a P/E ratio of -173.41 and a beta of 0.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The stock’s fifty day moving average is $206.56 and its 200 day moving average is $179.82. Atlassian Co. has a one year low of $135.29 and a one year high of $269.40.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) EPS. Sell-side analysts anticipate that Atlassian Co. will post -0.54 earnings per share for the current 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.