Point72 Asset Management L.P. Makes New $14.36 Million Investment in Atlassian Co. (NASDAQ:TEAM)

Point72 Asset Management L.P. purchased a new stake in Atlassian Co. (NASDAQ:TEAM) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 81,209 shares of the technology company’s stock, valued at approximately $14,364,000.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Atlassian by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after acquiring an additional 221,650 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after purchasing an additional 904,138 shares during the period. Dragoneer Investment Group LLC purchased a new stake in Atlassian in the 2nd quarter valued at approximately $469,803,000. Capital International Investors increased its position in Atlassian by 6.3% during the 1st quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock worth $475,399,000 after purchasing an additional 144,117 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in shares of Atlassian by 6.7% in the 1st quarter. Clearbridge Investments LLC now owns 2,070,928 shares of the technology company’s stock valued at $404,059,000 after buying an additional 130,253 shares during the period. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Performance

NASDAQ TEAM opened at $158.81 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The firm has a market capitalization of $41.30 billion, a P/E ratio of -252.08 and a beta of 0.73. The business’s 50-day simple moving average is $160.31 and its 200-day simple moving average is $173.53.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the company posted ($0.21) earnings per share. Atlassian’s revenue was up 20.5% compared to the same quarter last year. Equities analysts predict that Atlassian Co. will post -0.58 EPS for the current year.

Insider Activity at Atlassian

In related news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $186.48, for a total value of $1,482,143.04. Following the completion of the sale, the chief executive officer now directly owns 476,880 shares in the company, valued at approximately $88,928,582.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $186.48, for a total value of $1,482,143.04. Following the completion of the transaction, the chief executive officer now owns 476,880 shares in the company, valued at approximately $88,928,582.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction that occurred 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 sale, the chief technology officer now owns 128,957 shares in the company, valued at approximately $18,838,038.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,211 shares of company stock worth $38,706,904. 40.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TEAM has been the subject of a number of recent analyst reports. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. BMO Capital Markets cut their price target on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. Robert W. Baird lowered Atlassian from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $230.00 to $175.00 in a research note on Friday, August 2nd. Oppenheimer restated an “outperform” rating and issued a $230.00 target price on shares of Atlassian in a report on Monday, September 23rd. Finally, Morgan Stanley lowered their price target 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. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $217.69.

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.