International Assets Investment Management LLC Acquires New Position in Atlassian Co. (NASDAQ:TEAM)

International Assets Investment Management LLC bought a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, HoldingsChannel.com reports. The fund bought 58,038 shares of the technology company’s stock, valued at approximately $13,805,000.

A number of other hedge funds have also bought and sold shares of TEAM. Morgan Stanley increased its holdings in Atlassian by 156.8% in the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after buying an additional 1,095,297 shares during the period. American Century Companies Inc. increased its stake in shares of Atlassian by 58.7% in the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock worth $86,672,000 after acquiring an additional 159,102 shares during the period. Invesco Ltd. lifted its position in Atlassian by 45.8% during the third quarter. Invesco Ltd. now owns 476,920 shares of the technology company’s stock valued at $96,104,000 after purchasing an additional 149,850 shares during the period. FMR LLC boosted its holdings in Atlassian by 9.5% in the third quarter. FMR LLC now owns 1,638,425 shares of the technology company’s stock valued at $330,159,000 after purchasing an additional 141,960 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Atlassian by 19.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 761,415 shares of the technology company’s stock worth $153,433,000 after purchasing an additional 121,511 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $172.99, for a total value of $1,425,610.59. Following the completion of the sale, the chief executive officer now directly owns 325,245 shares of the company’s stock, valued at $56,264,132.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Atlassian news, CAO Gene Liu sold 582 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $215.00, for a total value of $125,130.00. Following the completion of the transaction, the chief accounting officer now owns 45,865 shares of the company’s stock, valued at approximately $9,860,975. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $172.99, for a total transaction of $1,425,610.59. Following the completion of the transaction, the chief executive officer now owns 325,245 shares of the company’s stock, valued at approximately $56,264,132.55. The disclosure for this sale can be found here. Insiders have sold 300,450 shares of company stock worth $60,110,850 over the last ninety days. Corporate insiders own 40.48% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on TEAM. UBS Group decreased their price objective on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Truist Financial lowered their price objective on Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. The Goldman Sachs Group lifted their target price on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Piper Sandler cut their price objective on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Finally, Canaccord Genuity Group lowered their price target on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $223.22.

Atlassian Stock Down 0.0 %

Shares of NASDAQ:TEAM opened at $183.52 on Friday. The company has a market capitalization of $47.61 billion, a price-to-earnings ratio of -291.30 and a beta of 0.67. Atlassian Co. has a 12-month low of $128.02 and a 12-month high of $258.69. The business has a 50-day moving average price of $197.23 and a 200 day moving average price of $205.98. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 0.82.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business’s revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.40) EPS. Sell-side analysts expect that Atlassian Co. will post -0.29 EPS for the current year.

About Atlassian

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.