Invesco Ltd. Increases Stock Position in Atlassian Co. (NASDAQ:TEAM)

Invesco Ltd. raised its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 265.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,445,440 shares of the technology company's stock after buying an additional 1,777,179 shares during the quarter. Invesco Ltd. owned about 0.93% of Atlassian worth $595,171,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of Atlassian in the 4th quarter worth approximately $27,000. Summit Securities Group LLC acquired a new position in Atlassian during the fourth quarter worth $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Atlassian during the fourth quarter worth $39,000. Avion Wealth boosted its position in shares of Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after buying an additional 157 shares during the period. Finally, Assetmark Inc. grew its stake in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TEAM. JMP Securities restated a "market perform" rating on shares of Atlassian in a report on Friday, January 31st. KeyCorp lowered their price objective on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a research note on Thursday. Macquarie upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and dropped their price objective for the company from $317.00 to $270.00 in a report on Thursday. UBS Group reduced their target price on shares of Atlassian from $330.00 to $230.00 and set a "neutral" rating on the stock in a report on Tuesday, April 1st. Finally, Jefferies Financial Group dropped their price target on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Eight equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Atlassian has a consensus rating of "Moderate Buy" and an average target price of $297.50.

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Atlassian Stock Performance

Atlassian stock traded up $0.34 during mid-day trading on Friday, reaching $198.37. 2,003,551 shares of the company were exchanged, compared to its average volume of 2,041,722. The firm's 50-day simple moving average is $251.13 and its two-hundred day simple moving average is $241.80. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The firm has a market cap of $51.97 billion, a PE ratio of -148.04 and a beta of 1.07. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

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

Insider Transactions at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $185.61, for a total transaction of $1,475,228.28. Following the sale, the director now directly owns 333,816 shares in the company, valued at approximately $61,959,587.76. The trade was a 2.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph Leo Binz sold 2,587 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $312.09, for a total transaction of $807,376.83. Following the completion of the transaction, the chief financial officer now directly owns 169,342 shares of the company's stock, valued at approximately $52,849,944.78. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 263,033 shares of company stock valued at $68,608,284. Corporate insiders own 38.55% of the company's stock.

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.