Wilmington Savings Fund Society FSB Grows Holdings in Atlassian Co. (NASDAQ:TEAM)

Wilmington Savings Fund Society FSB grew its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 59.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,901 shares of the technology company’s stock after buying an additional 1,081 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Atlassian were worth $461,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Dragoneer Investment Group LLC bought a new position in Atlassian in the second quarter valued at $469,803,000. Point72 Asset Management L.P. increased its position in shares of Atlassian by 760.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after purchasing an additional 617,566 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Atlassian by 122.0% during the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after buying an additional 551,500 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in Atlassian in the 3rd quarter worth approximately $57,149,000. Finally, Parnassus Investments LLC boosted its stake in Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after buying an additional 245,286 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Atlassian Stock Down 0.2 %

Shares of NASDAQ TEAM opened at $278.09 on Tuesday. The firm has a fifty day simple moving average of $229.09 and a two-hundred day simple moving average of $186.92. The firm has a market capitalization of $72.42 billion, a PE ratio of -182.95 and a beta of 0.80. 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 $287.97.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data 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 business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the business posted ($0.07) earnings per share. Atlassian’s quarterly revenue was up 21.5% compared to the same quarter last year. Equities analysts expect that Atlassian Co. will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the sale, the president now owns 143,966 shares in the company, valued at approximately $23,482,294.26. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Gene Liu sold 1,024 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $230,860.80. Following the transaction, the chief accounting officer now directly owns 59,168 shares of the company’s stock, valued at $13,339,425.60. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 268,642 shares of company stock valued at $56,973,091 over the last ninety days. Company insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

TEAM has been the topic of several research reports. Piper Sandler lifted their price target on shares of Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Truist Financial boosted their price target on shares of Atlassian from $200.00 to $250.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Scotiabank raised their price objective on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Jefferies Financial Group lifted their price objective on Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, BMO Capital Markets raised their price target on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $256.50.

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.