Gateway Investment Advisers LLC Buys 210 Shares of Atlassian Co. (NASDAQ:TEAM)

Gateway Investment Advisers LLC increased its stake in Atlassian Co. (NASDAQ:TEAM) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,153 shares of the technology company’s stock after purchasing an additional 210 shares during the period. Gateway Investment Advisers LLC’s holdings in Atlassian were worth $881,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of TEAM. Massachusetts Financial Services Co. MA bought a new position in Atlassian in the 4th quarter worth approximately $687,486,000. Voya Investment Management LLC raised its position in shares of Atlassian by 17,941.0% during the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock valued at $528,693,000 after acquiring an additional 2,160,810 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after acquiring an additional 1,806,042 shares during the last quarter. Invesco Ltd. raised its position in shares of Atlassian by 265.9% during the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock valued at $595,171,000 after acquiring an additional 1,777,179 shares during the last quarter. Finally, Durable Capital Partners LP raised its position in shares of Atlassian by 499.7% during the 4th quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company’s stock valued at $383,456,000 after acquiring an additional 1,312,820 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TEAM. Morgan Stanley dropped their target price on shares of Atlassian from $370.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. BMO Capital Markets dropped their target price on shares of Atlassian from $295.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Baird R W upgraded shares of Atlassian from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 14th. Piper Sandler reiterated an “overweight” rating and set a $300.00 target price (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Finally, Robert W. Baird upgraded shares of Atlassian from a “neutral” rating to an “outperform” rating and dropped their target price for the company from $320.00 to $255.00 in a research report on Monday, April 14th. Four analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $285.29.

Atlassian Price Performance

TEAM stock opened at $214.51 on Monday. The stock has a 50-day moving average price of $209.80 and a two-hundred day moving average price of $244.62. The stock has a market cap of $56.31 billion, a PE ratio of -160.08 and a beta of 0.96. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The company’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. Equities analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $234.38, for a total value of $1,862,852.24. Following the completion of the transaction, the director now owns 39,740 shares in the company, valued at $9,314,261.20. This trade represents a 16.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Brian Duffy sold 2,252 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $210.00, for a total value of $472,920.00. Following the completion of the transaction, the executive now owns 73,360 shares of the company’s stock, valued at $15,405,600. The trade was a 2.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 329,047 shares of company stock worth $70,283,469. Corporate insiders own 38.55% of the company’s stock.

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.