AustralianSuper Pty Ltd Has $1.25 Million Position in Atlassian Co. (NASDAQ:TEAM)

AustralianSuper Pty Ltd increased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 34.4% during the third quarter, Holdings Channel reports. The institutional investor owned 7,874 shares of the technology company’s stock after purchasing an additional 2,016 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Atlassian were worth $1,250,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hollencrest Capital Management grew its holdings in shares of Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after purchasing an additional 119 shares in the last quarter. Asset Dedication LLC increased its holdings in Atlassian by 229.8% in 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 during the period. Trust Co. of Vermont raised its stake in shares of Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after buying an additional 174 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Atlassian during the 2nd quarter worth about $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Atlassian during the 1st quarter valued at about $40,000. 93.03% of the stock is currently owned by institutional investors.

Atlassian Trading Down 1.0 %

Shares of Atlassian stock opened at $188.54 on Friday. The firm has a 50 day simple moving average of $171.36 and a 200 day simple moving average of $171.12. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18.

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

Insider Buying and Selling

In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares in the company, valued at approximately $18,838,038.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $193.70, for a total value of $1,539,527.60. Following the transaction, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at approximately $83,134,490.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the sale, the chief technology officer now owns 128,957 shares of the company’s stock, valued at $18,838,038.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 230,185 shares of company stock worth $39,155,661 over the last three months. 38.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TEAM. Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and increased their target price for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. BMO Capital Markets decreased their price target on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird lowered Atlassian from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $230.00 to $175.00 in a research note on Friday, August 2nd. Finally, Oppenheimer restated an “outperform” rating and issued a $230.00 target price on shares of Atlassian in a research note on Monday, September 23rd. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $212.47.

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.