Intech Investment Management LLC Buys 63,919 Shares of Atlassian Co. (NASDAQ:TEAM)

Intech Investment Management LLC increased its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 90.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,663 shares of the technology company's stock after buying an additional 63,919 shares during the quarter. Intech Investment Management LLC owned approximately 0.05% of Atlassian worth $21,386,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TEAM. Dragoneer Investment Group LLC bought a new position in Atlassian in the 2nd quarter valued at about $469,803,000. Price T Rowe Associates Inc. MD lifted its holdings in 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 worth $2,173,847,000 after purchasing an additional 904,138 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Atlassian in the 2nd quarter valued at $91,072,000. Quadrature Capital Ltd acquired a new position in Atlassian in the 1st quarter valued at $55,307,000. Finally, Swedbank AB bought a new position in Atlassian during the 1st quarter worth $50,923,000. 93.03% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Gene Liu sold 165 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total value of $40,563.60. Following the completion of the transaction, the chief accounting officer now directly owns 56,423 shares of the company's stock, valued at $13,871,030.32. This represents a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $166.36, for a total transaction of $1,322,229.28. Following the sale, the chief executive officer now owns 158,960 shares of the company's stock, valued at $26,444,585.60. This trade represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,746 shares of company stock worth $47,067,024 in the last quarter. 38.55% of the stock is owned by corporate insiders.

Atlassian Price Performance

Atlassian stock opened at $245.45 on Thursday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a 50-day moving average price of $191.18 and a two-hundred day moving average price of $175.45. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. Atlassian's quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) earnings per share. On average, equities research analysts expect that Atlassian Co. will post -0.56 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on TEAM. BMO Capital Markets upped their price target on shares of Atlassian from $177.00 to $255.00 and gave the company a "market perform" rating in a research note on Friday, November 1st. JMP Securities upgraded shares of Atlassian to a "hold" rating in a research report on Friday, August 2nd. Baird R W cut shares of Atlassian from a "strong-buy" rating to a "hold" rating in a report on Friday, August 2nd. Oppenheimer boosted their price target on Atlassian from $230.00 to $270.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Piper Sandler raised their price objective on Atlassian from $225.00 to $265.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, Atlassian presently has a consensus rating of "Moderate Buy" and an average price target of $244.21.

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.

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