7,834 Shares in Atlassian Co. (NASDAQ:TEAM) Bought by Plato Investment Management Ltd

Plato Investment Management Ltd purchased a new position in Atlassian Co. (NASDAQ:TEAM) during the third quarter, Holdings Channel reports. The firm purchased 7,834 shares of the technology company’s stock, valued at approximately $1,243,000.

A number of other hedge funds also recently modified their holdings of TEAM. Dragoneer Investment Group LLC bought a new position in shares of Atlassian in the second quarter worth $469,803,000. Price T Rowe Associates Inc. MD grew its position 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 acquiring an additional 904,138 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in Atlassian in the second quarter valued at about $91,072,000. Quadrature Capital Ltd bought a new position in Atlassian in the first quarter valued at about $55,307,000. Finally, Swedbank AB bought a new position in Atlassian in the first quarter valued at about $50,923,000. Institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TEAM. KeyCorp upgraded Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 target price on the stock in a research report on Friday, November 1st. Wells Fargo & Company lifted their target price on Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Barclays decreased their target price on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. UBS Group lifted their price target on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and a consensus price target of $244.21.

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares in the company, valued at $23,482,294.26. The trade was a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $156.92, for a total value of $1,247,200.16. Following the sale, the chief executive officer now owns 214,596 shares of the company’s stock, valued at approximately $33,674,404.32. This represents a 3.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,248 shares of company stock valued at $45,553,294. 38.55% of the stock is currently owned by company insiders.

Atlassian Stock Down 1.1 %

Atlassian stock opened at $249.99 on Friday. The stock’s 50 day moving average is $184.61 and its 200 day moving average is $173.61. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69.

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

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.