Acadian Asset Management LLC Has $209.15 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

Acadian Asset Management LLC raised its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 7.6% in the first quarter, Holdings Channel reports. The institutional investor owned 1,072,078 shares of the technology company’s stock after buying an additional 75,724 shares during the quarter. Acadian Asset Management LLC’s holdings in Atlassian were worth $209,145,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of TEAM. Arkadios Wealth Advisors bought a new stake in Atlassian in the 4th quarter valued at $202,000. Vanguard Group Inc. grew its position in Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after buying an additional 504,181 shares in the last quarter. Diversified Trust Co increased its stake in Atlassian by 27.6% during the first quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock valued at $2,739,000 after acquiring an additional 3,035 shares during the period. International Assets Investment Management LLC acquired a new position in Atlassian in the 4th quarter valued at approximately $13,805,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Atlassian by 7.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock valued at $27,723,000 after acquiring an additional 10,434 shares in the last quarter. 93.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Atlassian

In related news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $193.35, for a total transaction of $1,593,397.35. Following the completion of the sale, the chief executive officer now directly owns 382,932 shares of the company’s stock, valued at $74,039,902.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $200.00, for a total value of $152,000.00. Following the completion of the sale, the president now owns 161,850 shares in the company, valued at approximately $32,370,000. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $193.35, for a total value of $1,593,397.35. Following the sale, the chief executive officer now directly owns 382,932 shares in the company, valued at approximately $74,039,902.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 277,043 shares of company stock worth $48,437,496. Insiders own 40.48% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of research reports. Robert W. Baird lowered their price objective on Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Canaccord Genuity Group decreased their target price on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Oppenheimer dropped their price target on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Morgan Stanley decreased their price objective on Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Citigroup dropped their target price on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a report on Friday, April 12th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.81.

Atlassian Trading Up 0.2 %

Shares of TEAM traded up $0.40 during trading hours on Friday, hitting $176.50. 1,024,688 shares of the stock traded hands, compared to its average volume of 1,469,039. The business has a fifty day moving average of $170.98 and a 200-day moving average of $195.77. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $45.94 billion, a PE ratio of -280.16 and a beta of 0.74. Atlassian Co. has a 1-year low of $152.34 and a 1-year high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the firm earned ($0.40) EPS. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. Analysts expect that Atlassian Co. will post -0.22 EPS 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.