CenterBook Partners LP Increases Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

CenterBook Partners LP lifted its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 228.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,181 shares of the technology company's stock after purchasing an additional 15,425 shares during the quarter. CenterBook Partners LP's holdings in Atlassian were worth $5,398,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TEAM. Janus Henderson Group PLC raised its holdings in shares of Atlassian by 4.2% during the 3rd quarter. Janus Henderson Group PLC now owns 15,550 shares of the technology company's stock worth $2,469,000 after acquiring an additional 624 shares during the period. Quantinno Capital Management LP raised its stake in Atlassian by 121.0% during the third quarter. Quantinno Capital Management LP now owns 13,381 shares of the technology company's stock worth $2,125,000 after purchasing an additional 7,327 shares during the period. EP Wealth Advisors LLC acquired a new position in Atlassian in the 3rd quarter valued at about $491,000. Y Intercept Hong Kong Ltd acquired a new position in Atlassian in the 3rd quarter valued at about $3,026,000. Finally, Geode Capital Management LLC grew its stake in shares of Atlassian by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company's stock valued at $340,453,000 after buying an additional 57,911 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Buying and Selling at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of the firm's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares in the company, valued at $54,690,889.35. This trade represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Gene Liu sold 568 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the sale, the chief accounting officer now directly owns 52,142 shares in the company, valued at approximately $16,272,475.36. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 263,033 shares of company stock valued at $68,608,284. 38.55% of the stock is owned by corporate insiders.

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Atlassian Stock Performance

Shares of NASDAQ TEAM traded up $0.34 during mid-day trading on Friday, hitting $198.37. 2,003,551 shares of the company were exchanged, compared to its average volume of 2,039,036. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market cap of $51.97 billion, a price-to-earnings ratio of -148.04 and a beta of 1.07. The stock has a 50 day simple moving average of $251.13 and a 200-day simple moving average of $241.25. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. On average, sell-side analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TEAM shares. Macquarie upgraded Atlassian from a "neutral" rating to an "outperform" rating and decreased their price objective for the company from $317.00 to $270.00 in a report on Thursday. Stephens began coverage on Atlassian in a report on Wednesday, March 19th. They set an "equal weight" rating and a $255.00 price target for the company. Morgan Stanley boosted their price objective on shares of Atlassian from $315.00 to $370.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Mizuho increased their target price on shares of Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Finally, Barclays boosted their price target on shares of Atlassian from $275.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $297.50.

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.