Atlassian Co. (NASDAQ:TEAM) Holdings Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in Atlassian Co. (NASDAQ:TEAM) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,478,358 shares of the technology company’s stock after purchasing an additional 131,621 shares during the period. JPMorgan Chase & Co. owned approximately 0.95% of Atlassian worth $393,588,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TEAM. Dragoneer Investment Group LLC acquired a new stake in Atlassian during the 2nd quarter worth about $469,803,000. Point72 Asset Management L.P. boosted its holdings in shares of Atlassian by 760.5% during the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after purchasing an additional 617,566 shares during the period. Two Sigma Advisers LP grew its position in Atlassian by 122.0% during the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after purchasing an additional 551,500 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in Atlassian in the 3rd quarter worth approximately $57,149,000. Finally, Parnassus Investments LLC increased its stake in shares of Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after acquiring an additional 245,286 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Activity

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $159.81, for a total value of $1,270,169.88. Following the sale, the chief executive officer now directly owns 500,724 shares in the company, valued at $80,020,702.44. This represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Gene Liu sold 165 shares of Atlassian stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total value of $40,563.60. Following the transaction, the chief accounting officer now directly owns 56,423 shares of the company’s stock, valued at approximately $13,871,030.32. The trade was a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 269,402 shares of company stock worth $60,398,236. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Down 1.6 %

Shares of TEAM opened at $250.11 on Friday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97. The firm has a market capitalization of $65.14 billion, a P/E ratio of -164.54 and a beta of 0.80. The company has a 50-day simple moving average of $243.87 and a 200-day simple moving average of $193.53. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) earnings per share. On average, equities research analysts expect that Atlassian Co. will post -0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on TEAM. Raymond James boosted their target price on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. KeyCorp increased their price objective on Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Oppenheimer lifted their target price on shares of Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company increased their price target on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Jefferies Financial Group lifted their price objective on shares of Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $258.00.

About Atlassian

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.