10,060 Shares in Atlassian Co. (NASDAQ:TEAM) Acquired by AIA Group Ltd

AIA Group Ltd purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 10,060 shares of the technology company's stock, valued at approximately $1,598,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEAM. Dragoneer Investment Group LLC acquired a new position in shares of Atlassian during the 2nd quarter valued at about $469,803,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company's stock valued at $2,173,847,000 after acquiring an additional 904,138 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Atlassian during the 2nd quarter valued at about $91,072,000. Quadrature Capital Ltd acquired a new position in shares of Atlassian during the 1st quarter valued at about $55,307,000. Finally, Swedbank AB acquired a new stake in Atlassian in the 1st quarter valued at approximately $50,923,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, President Anutthara Bharadwaj sold 760 shares of the business's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the sale, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $237.04, for a total transaction of $1,883,993.92. Following the transaction, the director now owns 278,180 shares of the company's stock, valued at $65,939,787.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the business's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the transaction, the president now directly owns 143,966 shares in the company, valued at approximately $23,482,294.26. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 245,662 shares of company stock worth $44,653,051 over the last three months. Corporate insiders own 38.55% of the company's stock.

Atlassian Trading Up 1.6 %

NASDAQ:TEAM traded up $3.84 on Friday, reaching $237.80. The company's stock had a trading volume of 2,514,459 shares, compared to its average volume of 1,848,136. The firm has a market cap of $61.93 billion, a PE ratio of -156.45 and a beta of 0.71. The business's 50-day moving average price is $179.57 and its two-hundred day moving average price is $172.63. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion for 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 company's quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) earnings per share. Equities research analysts anticipate that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

TEAM has been the topic of a number of research analyst reports. Jefferies Financial Group raised their target price on Atlassian from $240.00 to $280.00 and gave the company a "buy" rating in a report on Friday, November 1st. Baird R W lowered Atlassian from a "strong-buy" rating to a "hold" rating in a report on Friday, August 2nd. Barclays lowered their target price on Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a report on Monday, August 5th. Canaccord Genuity Group raised their target price on Atlassian from $225.00 to $255.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group upgraded Atlassian from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company 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.