LMR Partners LLP Acquires New Holdings in Atlassian Co. (NASDAQ:TEAM)

LMR Partners LLP bought a new position in Atlassian Co. (NASDAQ:TEAM - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 55,500 shares of the technology company's stock, valued at approximately $8,814,000.

A number of other hedge funds have also modified their holdings of TEAM. Intech Investment Management LLC lifted its stake in Atlassian by 2.7% in the 1st quarter. Intech Investment Management LLC now owns 8,626 shares of the technology company's stock valued at $1,683,000 after purchasing an additional 230 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Atlassian by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company's stock worth $3,039,287,000 after buying an additional 221,650 shares during the last quarter. Edgestream Partners L.P. boosted its stake in shares of Atlassian by 750.2% in the 1st quarter. Edgestream Partners L.P. now owns 14,530 shares of the technology company's stock valued at $2,835,000 after purchasing an additional 12,821 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Atlassian by 1.4% during the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company's stock worth $890,000 after buying an additional 65 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in Atlassian by 33.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,204 shares of the technology company's stock worth $820,000 after acquiring an additional 1,062 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors.

Atlassian Trading Down 0.6 %

NASDAQ TEAM traded down $1.37 on Monday, hitting $238.67. 1,287,138 shares of the stock were exchanged, compared to its average volume of 1,862,092. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. The firm has a market capitalization of $62.16 billion, a P/E ratio of -158.64 and a beta of 0.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a fifty day moving average price of $187.95 and a two-hundred day moving average price of $174.61.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned ($0.07) earnings per share. The business's revenue for the quarter was up 21.5% compared to the same quarter last year. Research analysts forecast that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TEAM. Barclays decreased 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. Mizuho increased their price objective on shares of Atlassian from $200.00 to $240.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Morgan Stanley boosted their price target on shares of Atlassian from $216.00 to $224.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Jefferies Financial Group raised their target price on Atlassian from $280.00 to $300.00 and gave the company a "buy" rating in a report on Thursday. Finally, Piper Sandler boosted their price target on shares of Atlassian from $225.00 to $265.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $244.21.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $156.92, for a total value of $1,247,200.16. Following the completion of the sale, the chief executive officer now directly owns 214,596 shares of the company's stock, valued at $33,674,404.32. This represents a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gene Liu sold 785 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $240.00, for a total transaction of $188,400.00. Following the transaction, the chief accounting officer now owns 57,938 shares in the company, valued at approximately $13,905,120. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,248 shares of company stock valued at $45,553,294. 38.55% of the stock is currently owned by company insiders.

Atlassian 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.