Intech Investment Management LLC Grows Holdings in Atlassian Co. (NASDAQ:TEAM)

Intech Investment Management LLC grew its position in shares of Atlassian Co. (NASDAQ:TEAM) by 90.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 134,663 shares of the technology company’s stock after acquiring an additional 63,919 shares during the period. Intech Investment Management LLC’s holdings in Atlassian were worth $21,386,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Sequoia Financial Advisors LLC grew its stake in shares of Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after purchasing an additional 520 shares during the last quarter. Impax Asset Management Group plc grew its stake in Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after purchasing an additional 31,986 shares during the period. Parnassus Investments LLC lifted its position in Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after acquiring an additional 245,286 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Atlassian in the 3rd quarter worth approximately $97,350,000. Finally, Aigen Investment Management LP purchased a new position in Atlassian during the third quarter valued at $2,232,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the transaction, the president now owns 143,966 shares of the company’s stock, valued at $23,482,294.26. The trade was a 0.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $164.81, for a total transaction of $1,309,909.88. Following the completion of the transaction, the chief executive officer now directly owns 182,804 shares in the company, valued at $30,127,927.24. This represents a 4.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,746 shares of company stock valued at $47,067,024 in the last ninety days. Corporate insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Raymond James upped their target price on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Canaccord Genuity Group upped their price target on shares of Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, November 1st. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Morgan Stanley upped their price target on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Robert W. Baird increased their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $244.21.

Atlassian Stock Down 0.9 %

Atlassian stock opened at $245.45 on Thursday. The company’s 50-day moving average is $191.18 and its 200 day moving average is $175.45. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

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

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.