Edgestream Partners L.P. Has $4.97 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

Edgestream Partners L.P. increased its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 40.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,314 shares of the technology company's stock after purchasing an additional 8,997 shares during the quarter. Edgestream Partners L.P.'s holdings in Atlassian were worth $4,973,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its position in shares of Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company's stock valued at $306,000 after buying an additional 520 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in Atlassian by 590.6% during the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company's stock valued at $5,940,000 after purchasing an additional 31,986 shares during the last quarter. Parnassus Investments LLC lifted its holdings in Atlassian by 322.9% during the 3rd 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 during the last quarter. International Assets Investment Management LLC bought a new position in Atlassian during the third quarter worth $97,350,000. Finally, Aigen Investment Management LP acquired a new position in shares of Atlassian in the third quarter valued at $2,232,000. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Atlassian from $177.00 to $255.00 and gave the stock a "market perform" rating in a research note on Friday, November 1st. Mizuho boosted their price objective on Atlassian from $200.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Wells Fargo & Company increased their target price on Atlassian from $250.00 to $300.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Barclays reduced their price target on Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a research note on Monday, August 5th. Finally, KeyCorp raised Atlassian from a "sector weight" rating to an "overweight" rating and set a $260.00 target price for the company in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and a consensus price target of $244.21.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the sale, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $163.81, for a total transaction of $1,301,961.88. Following the completion of the transaction, the director now owns 151,012 shares of the company's stock, valued at approximately $24,737,275.72. This trade represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 257,694 shares of company stock worth $50,560,726. Corporate insiders own 38.55% of the company's stock.

Atlassian Price Performance

Atlassian stock traded up $1.12 during midday trading on Friday, reaching $263.58. The company's stock had a trading volume of 828,438 shares, compared to its average volume of 2,642,883. The stock has a market cap of $68.64 billion, a PE ratio of -173.41 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 Co. has a 52 week low of $135.29 and a 52 week high of $269.40. The business has a 50-day moving average price of $206.56 and a 200-day moving average price of $179.79.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 8.59% and a negative return on equity of 23.35%. The firm's revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.07) EPS. On average, sell-side analysts predict that Atlassian Co. will post -0.54 EPS for the current year.

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.