National Pension Service Acquires 22,883 Shares of Atlassian Co. (NASDAQ:TEAM)

National Pension Service lifted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 8.4% during the third quarter, Holdings Channel reports. The fund owned 296,066 shares of the technology company’s stock after buying an additional 22,883 shares during the quarter. National Pension Service’s holdings in Atlassian were worth $47,018,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Financial Advocates Investment Management raised its holdings in shares of Atlassian by 1.7% during the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after purchasing an additional 62 shares during the period. Ameritas Investment Partners Inc. raised its stake in Atlassian by 1.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after buying an additional 65 shares during the period. Legacy Wealth Asset Management LLC boosted its holdings in Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after acquiring an additional 70 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in Atlassian by 2.1% in the first quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock worth $775,000 after acquiring an additional 80 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares in the last quarter. 93.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TEAM shares. Wells Fargo & Company upped their price objective on shares of Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a research report on Thursday, July 11th. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. BMO Capital Markets raised their target price on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Finally, JMP Securities upgraded Atlassian to a “hold” rating in a report on Friday, August 2nd. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $243.16.

Insider Activity at Atlassian

In other news, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the transaction, the chief technology officer now owns 128,957 shares in the company, valued at $18,838,038.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the transaction, the chief technology officer now directly owns 128,957 shares in the company, valued at approximately $18,838,038.56. The trade was a 0.00 % 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 the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $219.07, for a total value of $1,741,168.36. Following the sale, the director now owns 309,972 shares in the company, valued at approximately $67,905,566.04. 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 three months, insiders have sold 237,269 shares of company stock worth $42,006,228. Company insiders own 38.55% of the company’s stock.

Atlassian Stock Up 1.8 %

Atlassian stock opened at $225.57 on Thursday. The firm has a 50 day moving average price of $176.79 and a 200-day moving average price of $171.90. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The company has a market capitalization of $58.65 billion, a P/E ratio of -148.40 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. Atlassian’s revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.07) earnings per share. As a group, equities analysts predict that Atlassian Co. will post -0.58 EPS for the current year.

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.