963,708 Shares in Atlassian Co. (NASDAQ:TEAM) Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership bought a new stake in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 963,708 shares of the technology company’s stock, valued at approximately $234,547,000. Arrowstreet Capital Limited Partnership owned about 0.37% of Atlassian as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Norges Bank acquired a new position in shares of Atlassian during the fourth quarter worth $296,697,000. Point72 Asset Management L.P. lifted its stake in shares of Atlassian by 760.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after acquiring an additional 617,566 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Atlassian by 122.0% during the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after acquiring an additional 551,500 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Atlassian by 12,047.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock worth $55,521,000 after acquiring an additional 226,246 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the subject of several research reports. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. JMP Securities reiterated a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Scotiabank increased their price objective on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Cantor Fitzgerald lifted their target price on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Oppenheimer increased their price target on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.77.

Atlassian Trading Down 2.1 %

NASDAQ:TEAM opened at $217.99 on Friday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The firm has a 50-day moving average price of $269.28 and a two-hundred day moving average price of $238.60. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $57.11 billion, a price-to-earnings ratio of -162.68 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, equities analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In other news, President Anutthara Bharadwaj sold 1,723 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total transaction of $526,962.32. Following the completion of the transaction, the president now directly owns 199,934 shares of the company’s stock, valued at $61,147,814.56. This represents a 0.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $229.64, for a total transaction of $1,825,178.72. Following the completion of the sale, the director now directly owns 23,844 shares in the company, valued at $5,475,536.16. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,033 shares of company stock worth $70,644,164 in the last ninety days. Company insiders own 38.55% of the company’s stock.

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.