UBS Asset Management Americas Inc. Grows Stock Position in Atlassian Co. (NASDAQ:TEAM)

UBS Asset Management Americas Inc. increased its holdings in shares of Atlassian Co. (NASDAQ:TEAM – Get Rating) by 1.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 239,954 shares of the technology company’s stock after buying an additional 2,379 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.09% of Atlassian worth $50,532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in Atlassian by 8.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 22,693,727 shares of the technology company’s stock worth $4,252,805,000 after acquiring an additional 1,803,544 shares during the last quarter. Jennison Associates LLC increased its stake in Atlassian by 41.6% during the third quarter. Jennison Associates LLC now owns 7,134,346 shares of the technology company’s stock worth $1,502,422,000 after acquiring an additional 2,095,358 shares during the last quarter. Sands Capital Management LLC increased its stake in Atlassian by 6.5% during the second quarter. Sands Capital Management LLC now owns 6,504,421 shares of the technology company’s stock worth $1,218,928,000 after acquiring an additional 397,595 shares during the last quarter. WCM Investment Management LLC increased its stake in Atlassian by 75.2% during the third quarter. WCM Investment Management LLC now owns 5,879,895 shares of the technology company’s stock worth $1,248,478,000 after acquiring an additional 2,523,053 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in Atlassian by 9.5% during the third quarter. Artisan Partners Limited Partnership now owns 5,695,486 shares of the technology company’s stock worth $1,199,412,000 after acquiring an additional 496,121 shares during the last quarter. 45.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TEAM. Robert W. Baird lowered their target price on Atlassian from $210.00 to $190.00 and set an “outperform” rating for the company in a research note on Thursday, December 22nd. Barclays assumed coverage on Atlassian in a research report on Thursday, December 15th. They set an “equal weight” rating and a $155.00 price target on the stock. BMO Capital Markets decreased their target price on Atlassian from $160.00 to $151.00 in a report on Tuesday, November 29th. Wells Fargo & Company decreased their target price on Atlassian from $250.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, January 6th. Finally, StockNews.com raised Atlassian from a “sell” rating to a “hold” rating in a research report on Saturday, February 25th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $218.11.

Insider Activity

In other news, CEO Scott Farquhar sold 8,614 shares of the business’s stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $146.60, for a total value of $1,262,812.40. Following the transaction, the chief executive officer now directly owns 77,526 shares of the company’s stock, valued at approximately $11,365,311.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Atlassian news, insider Gene Liu sold 238 shares of the company’s stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $180.79, for a total transaction of $43,028.02. Following the transaction, the insider now owns 50,413 shares of the company’s stock, valued at approximately $9,114,166.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Scott Farquhar sold 8,614 shares of the company’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $146.60, for a total value of $1,262,812.40. Following the transaction, the chief executive officer now directly owns 77,526 shares in the company, valued at approximately $11,365,311.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 256,154 shares of company stock worth $39,584,069. Company insiders own 43.11% of the company’s stock.

Atlassian Price Performance

Shares of TEAM opened at $155.78 on Monday. Atlassian Co. has a 12-month low of $113.86 and a 12-month high of $318.64. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.30 and a current ratio of 1.30. The stock’s 50-day moving average price is $159.68 and its 200 day moving average price is $173.83.

Atlassian (NASDAQ:TEAM – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The technology company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.33). Atlassian had a negative net margin of 11.17% and a negative return on equity of 73.57%. The company had revenue of $872.70 million during the quarter, compared to the consensus estimate of $842.45 million. On average, analysts predict that Atlassian Co. will post -0.84 earnings per share for the current year.

Atlassian Profile

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Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.