Atlassian Co. (NASDAQ:TEAM) Shares Bought by Commerce Bank

Commerce Bank grew its position in Atlassian Co. (NASDAQ:TEAM) by 1.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,966 shares of the technology company’s stock after purchasing an additional 90 shares during the period. Commerce Bank’s holdings in Atlassian were worth $789,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Parnassus Investments LLC raised its holdings in shares of Atlassian by 322.9% during the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after purchasing an additional 245,286 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Atlassian during the 3rd quarter valued at about $982,000. Banque Cantonale Vaudoise lifted its holdings in shares of Atlassian by 32.1% in the 3rd quarter. Banque Cantonale Vaudoise now owns 18,877 shares of the technology company’s stock valued at $2,998,000 after buying an additional 4,583 shares during the period. LMR Partners LLP purchased a new stake in shares of Atlassian in the third quarter worth about $8,814,000. Finally, Quest Partners LLC grew its holdings in Atlassian by 18.3% during the third quarter. Quest Partners LLC now owns 2,135 shares of the technology company’s stock worth $339,000 after acquiring an additional 330 shares during the period. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Stock Up 0.2 %

TEAM stock opened at $261.00 on Tuesday. The company has a market cap of $67.97 billion, a price-to-earnings ratio of -171.71 and a beta of 0.71. The firm has a 50-day moving average of $196.47 and a two-hundred day moving average of $176.97. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $269.40. 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 (NASDAQ:TEAM) last announced its quarterly earnings data 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 firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) earnings per share. As a group, analysts forecast that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. UBS Group upped their price objective on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. KeyCorp upgraded shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target on the stock in a research report on Friday, November 1st. Piper Sandler upped their price objective on shares of Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Scotiabank raised their target price on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets upped their price target on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $244.21.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 165 shares of Atlassian stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total value of $40,563.60. Following the sale, the chief accounting officer now owns 56,423 shares in the company, valued at $13,871,030.32. The trade was a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $166.36, for a total value of $1,322,229.28. Following the completion of the transaction, the chief executive officer now directly owns 158,960 shares in the company, valued at approximately $26,444,585.60. This trade represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 249,746 shares of company stock valued at $47,702,864. 38.55% of the stock is currently owned by insiders.

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.