Synovus Financial Corp Acquires 4,173 Shares of Atlassian Co. (NASDAQ:TEAM)

Synovus Financial Corp raised its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 26.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,962 shares of the technology company’s stock after acquiring an additional 4,173 shares during the quarter. Synovus Financial Corp’s holdings in Atlassian were worth $3,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TEAM. Tidal Investments LLC raised its stake in shares of Atlassian by 143.2% during the 3rd quarter. Tidal Investments LLC now owns 12,605 shares of the technology company’s stock valued at $2,002,000 after purchasing an additional 7,422 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in Atlassian by 59.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,901 shares of the technology company’s stock valued at $461,000 after buying an additional 1,081 shares in the last quarter. SkyView Investment Advisors LLC increased its position in shares of Atlassian by 3.0% during the third quarter. SkyView Investment Advisors LLC now owns 4,128 shares of the technology company’s stock valued at $656,000 after buying an additional 122 shares during the period. Tri Ri Asset Management Corp bought a new stake in shares of Atlassian during the third quarter valued at about $2,584,000. Finally, Virtu Financial LLC purchased a new stake in shares of Atlassian in the third quarter worth about $606,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In related news, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the transaction, the president now owns 143,966 shares in the company, valued at $23,482,294.26. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $160.14, for a total value of $1,272,792.72. Following the completion of the sale, the director now directly owns 484,828 shares of the company’s stock, valued at $77,640,355.92. The trade was a 1.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 276,590 shares of company stock worth $58,284,749. 38.55% of the stock is currently owned by company insiders.

Atlassian Price Performance

Shares of Atlassian stock opened at $278.65 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97. The business’s 50 day simple moving average is $229.09 and its two-hundred day simple moving average is $186.77. The stock has a market capitalization of $72.57 billion, a P/E ratio of -183.32 and a beta of 0.80.

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Scotiabank boosted their price objective on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Morgan Stanley upped their price target on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Mizuho lifted their price objective on Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday. Robert W. Baird boosted their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets raised their price target on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $256.50.

Atlassian Profile

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.