Atlassian Co. (NASDAQ:TEAM) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 68.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 236 shares of the technology company’s stock after buying an additional 96 shares during the period. GAMMA Investing LLC’s holdings in Atlassian were worth $37,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Asset Dedication LLC lifted its holdings in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Hollencrest Capital Management boosted its holdings in Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after buying an additional 119 shares in the last quarter. Trust Co. of Vermont grew its position in Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after buying an additional 174 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Atlassian in the second quarter valued at $36,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of Atlassian in the first quarter valued at $40,000. 93.03% of the stock is currently owned by institutional investors.

Atlassian Price Performance

Shares of TEAM opened at $191.70 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $49.85 billion, a PE ratio of -165.26 and a beta of 0.73. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The firm’s 50 day moving average price is $164.91 and its 200 day moving average price is $171.89.

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

Analysts Set New Price Targets

TEAM has been the topic of a number of recent research reports. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $200.00 to $230.00 in a research note on Friday, August 2nd. Barclays reduced their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Scotiabank dropped their target price on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Finally, Oppenheimer restated an “outperform” rating and issued a $230.00 price target on shares of Atlassian in a research report on Monday, September 23rd. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $215.12.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $169.47, for a total value of $1,346,947.56. Following the completion of the sale, the chief executive officer now directly owns 373,556 shares in the company, valued at approximately $63,306,535.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Heather Mirjahangir Fernandez sold 750 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $185.50, for a total value of $139,125.00. Following the sale, the director now directly owns 10,110 shares of the company’s stock, valued at approximately $1,875,405. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $169.47, for a total value of $1,346,947.56. Following the completion of the transaction, the chief executive officer now owns 373,556 shares in the company, valued at $63,306,535.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 229,425 shares of company stock valued at $38,058,262. Insiders own 40.48% of the company’s stock.

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.