Metis Global Partners LLC Acquires 459 Shares of Atlassian Co. (NASDAQ:TEAM)

Metis Global Partners LLC increased its holdings in Atlassian Co. (NASDAQ:TEAM) by 12.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,030 shares of the technology company’s stock after acquiring an additional 459 shares during the quarter. Metis Global Partners LLC’s holdings in Atlassian were worth $640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Asset Dedication LLC boosted its holdings in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Trust Co. of Vermont boosted its stake in Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Atlassian during the 2nd quarter valued at about $36,000. Crewe Advisors LLC bought a new stake in Atlassian during the 1st quarter valued at about $43,000. Finally, GAMMA Investing LLC raised its holdings in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TEAM shares. Oppenheimer increased their price target on shares of Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, November 1st. KeyCorp raised Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 target price for the company in a report on Friday, November 1st. BMO Capital Markets boosted their price target on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Robert W. Baird increased their price objective on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Truist Financial boosted their target price on Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

Atlassian Stock Performance

Shares of TEAM opened at $240.04 on Monday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a market cap of $62.51 billion, a price-to-earnings ratio of -157.92 and a beta of 0.71. The business has a 50-day simple moving average of $187.95 and a two-hundred day simple moving average of $174.60.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.07) EPS. On average, analysts expect that Atlassian Co. will post -0.56 EPS for the current year.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $156.92, for a total value of $1,247,200.16. Following the completion of the transaction, the chief executive officer now directly owns 214,596 shares in the company, valued at $33,674,404.32. This represents a 3.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Gene Liu sold 1,024 shares of Atlassian 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 sale, the chief accounting officer now owns 59,168 shares in the company, valued at approximately $13,339,425.60. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 246,248 shares of company stock valued at $45,553,294. Company insiders own 38.55% of the company’s stock.

Atlassian Company 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.