Cwm LLC Raises Holdings in Atlassian Co. (NASDAQ:TEAM)

Cwm LLC boosted its position in Atlassian Co. (NASDAQ:TEAM) by 270.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,875 shares of the technology company’s stock after acquiring an additional 5,750 shares during the quarter. Cwm LLC’s holdings in Atlassian were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Atlassian by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock valued at $3,039,287,000 after purchasing an additional 221,650 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Atlassian by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after buying an additional 904,138 shares in the last quarter. Dragoneer Investment Group LLC purchased a new stake in Atlassian during the second quarter worth approximately $469,803,000. Capital International Investors grew its stake in Atlassian by 6.3% during the first quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock worth $475,399,000 after buying an additional 144,117 shares during the period. Finally, Clearbridge Investments LLC increased its position in shares of Atlassian by 6.7% in the first quarter. Clearbridge Investments LLC now owns 2,070,928 shares of the technology company’s stock worth $404,059,000 after acquiring an additional 130,253 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and upped their price target for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Oppenheimer reaffirmed an “outperform” rating and issued a $230.00 target price on shares of Atlassian in a research report on Monday, September 23rd. Scotiabank dropped their target price on Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target for the company in a report on Thursday, July 11th. Finally, BMO Capital Markets lowered their price objective on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $216.29.

Atlassian Stock Performance

Shares of TEAM stock opened at $189.35 on Thursday. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The company’s 50-day simple moving average is $162.91 and its 200-day simple moving average is $171.79. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. Atlassian’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) EPS. As a group, research analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $175.00, for a total transaction of $133,000.00. Following the sale, the president now directly owns 152,534 shares of the company’s stock, valued at approximately $26,693,450. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $193.70, for a total transaction of $1,539,527.60. Following the completion of the transaction, the chief executive officer now owns 429,192 shares in the company, valued at $83,134,490.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $175.00, for a total value of $133,000.00. Following the completion of the sale, the president now directly owns 152,534 shares in the company, valued at $26,693,450. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,185 shares of company stock valued at $38,079,593 over the last 90 days. 40.48% of the stock is owned by company insiders.

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.