Platform Technology Partners Buys Shares of 1,000 Atlassian Co. (NASDAQ:TEAM)

Platform Technology Partners purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,000 shares of the technology company’s stock, valued at approximately $243,000.

Several other institutional investors have also modified their holdings of the business. Point72 Asset Management L.P. raised its holdings in shares of Atlassian by 760.5% during the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after acquiring an additional 617,566 shares during the period. Two Sigma Advisers LP increased its holdings in Atlassian by 122.0% during the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after purchasing an additional 551,500 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Atlassian in the 3rd quarter valued at about $57,149,000. Parnassus Investments LLC lifted its holdings in shares of Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after purchasing an additional 245,286 shares in the last quarter. Finally, PointState Capital LP acquired a new position in shares of Atlassian during the third quarter worth about $30,566,000. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TEAM. Barclays lifted their target price on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. KeyCorp boosted their price objective on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Cantor Fitzgerald raised their target price on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Macquarie lifted their target price on Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Robert W. Baird boosted their target price on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $319.71.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 1,659 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $245.81, for a total transaction of $407,798.79. Following the completion of the sale, the president now owns 213,511 shares of the company’s stock, valued at $52,483,138.91. This represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Gene Liu sold 785 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $240.00, for a total transaction of $188,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 57,938 shares in the company, valued at approximately $13,905,120. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 265,438 shares of company stock worth $70,024,411. Company insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

TEAM opened at $314.28 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. The stock has a fifty day moving average of $264.90 and a 200-day moving average of $211.90. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $324.37.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, research analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

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.