67,904 Shares in Atlassian Co. (NASDAQ:TEAM) Bought by Sora Investors LLC

Sora Investors LLC acquired a new position in Atlassian Co. (NASDAQ:TEAM) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 67,904 shares of the technology company’s stock, valued at approximately $10,784,000. Atlassian accounts for 1.9% of Sora Investors LLC’s holdings, making the stock its 19th largest position.

Several other institutional investors also recently bought and sold shares of the stock. Gateway Investment Advisers LLC raised its position in Atlassian by 50.3% during the 2nd quarter. Gateway Investment Advisers LLC now owns 10,255 shares of the technology company’s stock valued at $1,814,000 after purchasing an additional 3,434 shares during the last quarter. MJP Associates Inc. ADV boosted its stake in Atlassian by 16.2% during the second quarter. MJP Associates Inc. ADV now owns 2,397 shares of the technology company’s stock worth $424,000 after acquiring an additional 334 shares in the last quarter. RFG Advisory LLC grew its holdings in Atlassian by 5.8% in the second quarter. RFG Advisory LLC now owns 2,065 shares of the technology company’s stock worth $365,000 after purchasing an additional 113 shares during the period. D.B. Root & Company LLC bought a new position in shares of Atlassian during the second quarter valued at approximately $293,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Atlassian by 25.3% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 767 shares of the technology company’s stock valued at $140,000 after purchasing an additional 155 shares during the last quarter. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Trading Down 3.7 %

NASDAQ TEAM opened at $276.72 on Friday. The stock has a market cap of $72.07 billion, a PE ratio of -182.05 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. The company’s 50-day moving average price is $215.54 and its 200-day moving average price is $182.41.

Atlassian (NASDAQ:TEAM) last released 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 return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business posted ($0.07) EPS. Atlassian’s quarterly revenue was up 21.5% on a year-over-year basis. Equities research analysts forecast that Atlassian Co. will post -0.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of recent analyst reports. KeyCorp increased their price target on shares of Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday. Wells Fargo & Company increased their target price on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday. Scotiabank lifted their target price on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Mizuho upped their price target on Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Raymond James lifted their price objective on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and a consensus target price of $249.74.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $159.81, for a total value of $1,270,169.88. Following the completion of the transaction, the chief executive officer now directly owns 500,724 shares in the company, valued at approximately $80,020,702.44. The trade was a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares in the company, valued at $23,482,294.26. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 260,694 shares of company stock worth $53,019,040 in the last three months. Corporate 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.