Aigen Investment Management LP Makes New Investment in Atlassian Co. (NASDAQ:TEAM)

Aigen Investment Management LP bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 14,055 shares of the technology company's stock, valued at approximately $2,232,000.

Other hedge funds have also added to or reduced their stakes in the company. Financial Advocates Investment Management increased its holdings in Atlassian by 1.7% in the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company's stock worth $662,000 after acquiring an additional 62 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Atlassian by 1.4% during the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company's stock worth $890,000 after purchasing an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its stake in shares of Atlassian by 2.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company's stock valued at $544,000 after purchasing an additional 70 shares during the last quarter. SkyView Investment Advisors LLC increased its holdings in Atlassian by 2.1% during the 1st quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company's stock worth $775,000 after purchasing an additional 80 shares during the period. Finally, GAMMA Investing LLC increased its position in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock worth $37,000 after buying an additional 96 shares during the period. 93.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the sale, the chief technology officer now directly owns 128,957 shares of the company's stock, valued at approximately $18,838,038.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the firm's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $164.81, for a total value of $1,309,909.88. Following the sale, the chief executive officer now directly owns 182,804 shares in the company, valued at $30,127,927.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the firm's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares in the company, valued at approximately $18,838,038.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,395 shares of company stock valued at $46,787,439 over the last ninety days. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Price Performance

NASDAQ TEAM traded down $0.57 during trading on Tuesday, hitting $245.28. 2,267,335 shares of the company's stock were exchanged, compared to its average volume of 1,855,388. The stock's 50 day moving average price is $181.17 and its two-hundred day moving average price is $172.59. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The company has a market cap of $63.88 billion, a PE ratio of -160.04 and a beta of 0.71. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced 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. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm's revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) EPS. Research analysts expect that Atlassian Co. will post -0.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TEAM shares. Piper Sandler boosted their price target on Atlassian from $225.00 to $265.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Canaccord Genuity Group increased their price target on Atlassian from $225.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. KeyCorp raised Atlassian from a "sector weight" rating to an "overweight" rating and set a $260.00 price target for the company in a research note on Friday, November 1st. JMP Securities upgraded Atlassian to a "hold" rating in a report on Friday, August 2nd. Finally, BMO Capital Markets raised their price target on Atlassian from $177.00 to $255.00 and gave the company a "market perform" rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $243.16.

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.