Capital Performance Advisors LLP Buys Shares of 651 Atlassian Co. (NASDAQ:TEAM)

Capital Performance Advisors LLP purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 651 shares of the technology company’s stock, valued at approximately $103,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TEAM. Dragoneer Investment Group LLC bought a new stake in Atlassian during the 2nd quarter worth approximately $469,803,000. Price T Rowe Associates Inc. MD grew its stake in shares of Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in Atlassian in the second quarter valued at $91,072,000. Quadrature Capital Ltd bought a new position in Atlassian during the 1st quarter worth $55,307,000. Finally, Swedbank AB acquired a new position in Atlassian during the 1st quarter worth about $50,923,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of several recent research reports. BMO Capital Markets increased their price target on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Barclays decreased their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. UBS Group boosted their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Robert W. Baird increased their price objective on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group lifted their target price on shares of Atlassian from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.16.

Atlassian Stock Performance

NASDAQ TEAM opened at $237.80 on Friday. The company has a market cap of $61.93 billion, a P/E ratio of -156.45 and a beta of 0.71. The company has a fifty day simple moving average of $179.57 and a 200 day simple moving average of $172.63. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm posted ($0.07) earnings per share. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. Sell-side analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the transaction, the chief technology officer now owns 128,957 shares of the company’s stock, valued at $18,838,038.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at $18,838,038.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $237.04, for a total transaction of $1,883,993.92. Following the completion of the sale, the director now owns 278,180 shares of the company’s stock, valued at approximately $65,939,787.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 245,662 shares of company stock valued at $44,653,051. Corporate insiders own 38.55% of the company’s stock.

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.