Edgestream Partners L.P. Has $3.95 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

Edgestream Partners L.P. boosted its holdings in Atlassian Co. (NASDAQ:TEAM) by 53.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,317 shares of the technology company’s stock after purchasing an additional 7,787 shares during the quarter. Edgestream Partners L.P.’s holdings in Atlassian were worth $3,947,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Atlassian by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock valued at $3,039,287,000 after acquiring an additional 221,650 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after purchasing an additional 904,138 shares in the last quarter. Capital International Investors raised its holdings in shares of Atlassian by 6.3% during the first quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock valued at $475,399,000 after purchasing an additional 144,117 shares during the period. Clearbridge Investments LLC boosted its position in shares of Atlassian by 6.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,070,928 shares of the technology company’s stock worth $404,059,000 after purchasing an additional 130,253 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Atlassian by 2.1% in the 4th quarter. First Trust Advisors LP now owns 1,576,176 shares of the technology company’s stock valued at $374,909,000 after buying an additional 32,174 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Down 5.6 %

Atlassian stock opened at $155.82 on Wednesday. The firm has a 50 day moving average price of $162.94 and a 200-day moving average price of $176.05. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The company has a market capitalization of $40.56 billion, a P/E ratio of -247.33 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted ($0.21) earnings per share. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, equities analysts predict that Atlassian Co. will post -0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. JMP Securities raised Atlassian to a “hold” rating in a research note on Friday, August 2nd. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $200.00 to $225.00 in a report on Tuesday, July 2nd. Scotiabank decreased their price target on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Oppenheimer lowered their price objective on shares of Atlassian from $250.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $217.69.

Insider Activity at Atlassian

In other news, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the transaction, the chief technology officer now owns 128,957 shares in the company, valued at $18,838,038.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the transaction, the chief technology officer now directly owns 128,957 shares in the company, valued at $18,838,038.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $165.03, for a total value of $1,311,658.44. Following the sale, the chief executive officer now directly owns 79,480 shares in the company, valued at approximately $13,116,584.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 240,159 shares of company stock worth $40,255,831. Company insiders own 40.48% of the company’s stock.

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.