Fmr LLC Buys 150,237 Shares of Atlassian Co. (NASDAQ:TEAM)

Fmr LLC increased its position in Atlassian Co. (NASDAQ:TEAM) by 7.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,182,980 shares of the technology company’s stock after acquiring an additional 150,237 shares during the quarter. Fmr LLC owned about 0.84% of Atlassian worth $346,679,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Dragoneer Investment Group LLC purchased a new stake in Atlassian in the 2nd quarter worth approximately $469,803,000. Manning & Napier Advisors LLC bought a new stake in Atlassian during the second quarter valued at $91,072,000. Westfield Capital Management Co. LP purchased a new position in Atlassian during the third quarter worth about $57,149,000. Parnassus Investments LLC grew its position in Atlassian by 322.9% during the third 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 in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Atlassian by 657.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 239,509 shares of the technology company’s stock valued at $42,364,000 after acquiring an additional 207,891 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Stock Performance

Atlassian stock opened at $263.58 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a market cap of $68.64 billion, a P/E ratio of -173.41 and a beta of 0.71. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $269.40. The firm has a 50-day moving average of $206.56 and a 200-day moving average of $179.82.

Atlassian (NASDAQ:TEAM) last released 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 return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business posted ($0.07) EPS. The business’s revenue was up 21.5% on a year-over-year basis. Sell-side analysts expect that Atlassian Co. will post -0.54 EPS for the current year.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 1,024 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $230,860.80. Following the completion of the sale, the chief accounting officer now directly owns 59,168 shares in the company, valued at $13,339,425.60. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $163.81, for a total value of $1,301,961.88. Following the transaction, the director now owns 151,012 shares in the company, valued at $24,737,275.72. This trade represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 257,694 shares of company stock worth $50,560,726 over the last quarter. Corporate insiders own 38.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Robert W. Baird boosted their price objective on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Morgan Stanley increased their price target on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Barclays dropped their price objective 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. KeyCorp raised Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 target price on the stock in a research note on Friday, November 1st. Finally, UBS Group raised their price target on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.