Atlassian Co. (NASDAQ:TEAM) Shares Bought by Gotham Asset Management LLC

Gotham Asset Management LLC grew its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,142 shares of the technology company’s stock after purchasing an additional 2,926 shares during the quarter. Gotham Asset Management LLC’s holdings in Atlassian were worth $4,902,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TEAM. JPMorgan Chase & Co. increased its position in shares of Atlassian by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after acquiring an additional 131,621 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Atlassian by 3.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,960 shares of the technology company’s stock worth $1,937,000 after acquiring an additional 230 shares during the last quarter. Wedmont Private Capital purchased a new stake in shares of Atlassian during the fourth quarter worth about $221,000. Pallas Capital Advisors LLC increased its position in shares of Atlassian by 185.9% during the fourth quarter. Pallas Capital Advisors LLC now owns 4,245 shares of the technology company’s stock worth $1,033,000 after acquiring an additional 2,760 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of Atlassian by 16.7% during the fourth quarter. Park Avenue Securities LLC now owns 4,757 shares of the technology company’s stock worth $1,158,000 after acquiring an additional 682 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In other news, CAO Gene Liu sold 568 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the sale, the chief accounting officer now owns 52,142 shares in the company, valued at approximately $16,272,475.36. This represents a 1.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $222.47, for a total value of $1,768,191.56. Following the sale, the chief executive officer now owns 143,064 shares of the company’s stock, valued at $31,827,448.08. This trade represents a 5.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 252,786 shares of company stock valued at $58,795,052. 38.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TEAM shares. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. The Goldman Sachs Group lifted their target price on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. KeyCorp lowered their price objective on Atlassian from $365.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. BMO Capital Markets lowered their price objective on Atlassian from $295.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, UBS Group lowered their price objective on Atlassian from $230.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $285.29.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $229.52 on Wednesday. The stock has a fifty day moving average price of $214.30 and a two-hundred day moving average price of $246.65. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $60.13 billion, a P/E ratio of -171.28 and a beta of 1.06. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00.

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