Intech Investment Management LLC Acquires 62,118 Shares of Atlassian Co. (NASDAQ:TEAM)

Intech Investment Management LLC increased its holdings in Atlassian Co. (NASDAQ:TEAM) by 720.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,744 shares of the technology company’s stock after purchasing an additional 62,118 shares during the quarter. Intech Investment Management LLC’s holdings in Atlassian were worth $12,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of TEAM. First Trust Direct Indexing L.P. boosted its position in Atlassian by 1.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after acquiring an additional 55 shares in the last quarter. Park National Corp OH boosted its position in Atlassian by 4.0% during the 1st quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock valued at $292,000 after acquiring an additional 58 shares in the last quarter. Financial Advocates Investment Management boosted its position in Atlassian by 1.7% during the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after acquiring an additional 62 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Atlassian by 1.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock valued at $890,000 after acquiring an additional 65 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in Atlassian by 6.8% during the 1st quarter. UMB Bank n.a. now owns 1,112 shares of the technology company’s stock valued at $217,000 after acquiring an additional 71 shares in the last quarter. 93.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TEAM. Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Mizuho lowered their target price on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Barclays lowered their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Morgan Stanley lowered their target price on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Finally, BMO Capital Markets lowered their target price on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.69.

Atlassian Trading Down 0.0 %

NASDAQ:TEAM opened at $163.08 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The company has a market cap of $42.41 billion, a PE ratio of -258.86 and a beta of 0.73. The company has a 50 day simple moving average of $161.99 and a two-hundred day simple moving average of $175.54.

Atlassian (NASDAQ:TEAM) last posted 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. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm posted ($0.21) EPS. The firm’s revenue was up 20.5% on a year-over-year basis. Research analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current year.

Insider Activity

In other news, CTO Rajeev Bashyam Rajan sold 199 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the sale, the chief technology officer now owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CTO Rajeev Bashyam Rajan sold 199 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the sale, the chief technology officer now owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $176.05, for a total transaction of $1,399,245.40. The disclosure for this sale can be found here. Insiders sold a total of 239,399 shares of company stock valued at $40,189,629 in the last 90 days. Company insiders own 40.48% of the company’s stock.

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.