Oppenheimer & Co. Inc. Raises Holdings in Atlassian Co. (NASDAQ:TEAM)

Oppenheimer & Co. Inc. boosted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 24.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,771 shares of the technology company’s stock after buying an additional 347 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Atlassian were worth $281,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEAM. Financial Advocates Investment Management increased its position in shares of Atlassian by 1.7% during the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after purchasing an additional 62 shares during the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of Atlassian by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after acquiring an additional 70 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in shares of Atlassian by 2.1% in the 1st quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock valued at $775,000 after acquiring an additional 80 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the last quarter. Finally, Founders Financial Securities LLC boosted its position in shares of Atlassian by 4.9% during the 2nd quarter. Founders Financial Securities LLC now owns 2,201 shares of the technology company’s stock worth $389,000 after purchasing an additional 102 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insider Transactions at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $244.81, for a total value of $1,945,749.88. Following the completion of the sale, the director now owns 214,596 shares in the company, valued at $52,535,246.76. This trade represents a 3.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Anutthara Bharadwaj sold 1,659 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total transaction of $407,798.79. Following the transaction, the president now directly owns 213,511 shares in the company, valued at approximately $52,483,138.91. This trade represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 257,694 shares of company stock worth $49,012,774. Corporate insiders own 38.55% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of research reports. Morgan Stanley upped their price target on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Wells Fargo & Company raised their target price on Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, November 1st. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. KeyCorp raised shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective for the company in a research note on Friday, November 1st. Finally, Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $244.21.

Atlassian Price Performance

TEAM stock opened at $260.58 on Friday. The stock has a market cap of $67.86 billion, a price-to-earnings ratio of -171.43 and a beta of 0.71. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $262.00. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average price of $194.53 and a 200 day moving average price of $176.48.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned ($0.07) EPS. The company’s revenue was up 21.5% compared to the same quarter last year. Equities research analysts anticipate that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

Atlassian 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.