Baillie Gifford & Co. Grows Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Baillie Gifford & Co. raised its stake in Atlassian Co. (NASDAQ:TEAM) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,514,039 shares of the technology company’s stock after buying an additional 78,454 shares during the period. Atlassian makes up approximately 1.0% of Baillie Gifford & Co.’s holdings, making the stock its 23rd largest holding. Baillie Gifford & Co.’s holdings in Atlassian were worth $1,352,115,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Financial Advocates Investment Management increased its stake in Atlassian by 1.7% in the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after purchasing an additional 62 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Atlassian by 1.4% in the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after acquiring an additional 65 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its stake in shares of Atlassian by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after purchasing an additional 70 shares during the last quarter. SkyView Investment Advisors LLC boosted its position in Atlassian by 2.1% during the first quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock worth $775,000 after acquiring an additional 80 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the period. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Up 3.4 %

Shares of NASDAQ:TEAM opened at $245.85 on Tuesday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The company’s fifty day moving average is $179.57 and its two-hundred day moving average is $172.26. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $64.03 billion, a price-to-earnings ratio of -161.74 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) earnings per share. Equities analysts anticipate that Atlassian Co. will post -0.56 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on TEAM. Jefferies Financial Group raised their price objective on Atlassian from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Oppenheimer lifted their price target on Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company increased their price objective on shares of Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. BMO Capital Markets boosted their target price on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Finally, KeyCorp raised shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target for the company in a research report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.16.

Insider Buying and Selling

In related news, CAO Gene Liu sold 1,024 shares of Atlassian stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $230,860.80. Following the sale, the chief accounting officer now directly owns 59,168 shares in the company, valued at $13,339,425.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $237.04, for a total transaction of $1,883,993.92. Following the sale, the director now directly owns 278,180 shares in the company, valued at $65,939,787.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gene Liu sold 1,024 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $230,860.80. Following the completion of the transaction, the chief accounting officer now owns 59,168 shares of the company’s stock, valued at $13,339,425.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 245,662 shares of company stock worth $44,653,051 in the last three months. 38.55% of the stock is owned by insiders.

Atlassian Company 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.