Atlassian Co. (NASDAQ:TEAM) Position Lifted by Vinva Investment Management Ltd

Vinva Investment Management Ltd lifted its holdings in Atlassian Co. (NASDAQ:TEAM) by 11.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,698 shares of the technology company’s stock after buying an additional 673 shares during the quarter. Vinva Investment Management Ltd’s holdings in Atlassian were worth $1,080,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC lifted its position in shares of Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after buying an additional 520 shares during the last quarter. Impax Asset Management Group plc lifted its position in shares of Atlassian by 590.6% in the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after buying an additional 31,986 shares during the last quarter. Parnassus Investments LLC lifted its position in shares of Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after buying an additional 245,286 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Atlassian in the 3rd quarter worth about $97,350,000. Finally, Aigen Investment Management LP bought a new position in shares of Atlassian in the 3rd quarter worth about $2,232,000. 93.03% of the stock is currently owned by institutional investors.

Atlassian Price Performance

NASDAQ TEAM opened at $263.58 on Friday. 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 stock has a market capitalization of $68.64 billion, a PE ratio of -173.41 and a beta of 0.71. The company has a 50 day moving average price of $206.56 and a two-hundred day moving average price of $179.85. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $269.40.

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 analysts’ consensus estimates 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 analysts’ expectations of $1.16 billion. During the same period in the previous year, the company earned ($0.07) earnings per share. Atlassian’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, equities analysts predict that Atlassian Co. will post -0.54 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $264.20, for a total value of $2,099,861.60. Following the sale, the director now owns 190,752 shares of the company’s stock, valued at $50,396,678.40. The trade was a 4.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 257,694 shares of company stock worth $50,560,726 in the last ninety days. 38.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. UBS Group boosted their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Robert W. Baird boosted their price target on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Oppenheimer boosted their price target on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $244.21.

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.