7,834 Shares in Atlassian Co. (NASDAQ:TEAM) Bought by Plato Investment Management Ltd

Plato Investment Management Ltd purchased a new stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 7,834 shares of the technology company's stock, valued at approximately $1,243,000.

Other hedge funds have also modified their holdings of the company. Financial Advocates Investment Management lifted its position in Atlassian by 1.7% during the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company's stock valued at $662,000 after purchasing an additional 62 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Atlassian by 1.4% in the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company's stock worth $890,000 after acquiring an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company's stock worth $544,000 after acquiring an additional 70 shares in the last quarter. SkyView Investment Advisors LLC increased its stake in Atlassian by 2.1% during the first quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company's stock worth $775,000 after acquiring an additional 80 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock valued at $37,000 after purchasing an additional 96 shares during the period. 93.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on TEAM. BMO Capital Markets increased their price target on Atlassian from $177.00 to $255.00 and gave the company a "market perform" rating in a report on Friday, November 1st. UBS Group lifted their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Baird R W lowered shares of Atlassian from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 2nd. Barclays dropped their target price on Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a research report on Monday, August 5th. Finally, Mizuho increased their price target on Atlassian from $200.00 to $240.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $244.21.

Atlassian Stock Down 4.0 %

Shares of NASDAQ TEAM traded down $9.95 during mid-day trading on Friday, reaching $240.04. 2,278,983 shares of the company were exchanged, compared to its average volume of 1,864,679. The firm has a 50-day moving average of $186.37 and a 200 day moving average of $174.14. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a market cap of $62.51 billion, a price-to-earnings ratio of -157.92 and a beta of 0.71.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion during 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%. Atlassian's revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) EPS. On average, research analysts expect that Atlassian Co. will post -0.56 earnings per share for the current year.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $156.92, for a total transaction of $1,247,200.16. Following the completion of the sale, the chief executive officer now owns 214,596 shares of the company's stock, valued at approximately $33,674,404.32. The trade was a 3.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Gene Liu sold 1,024 shares of Atlassian stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $230,860.80. Following the sale, the chief accounting officer now directly owns 59,168 shares of the company's stock, valued at $13,339,425.60. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,248 shares of company stock worth $45,553,294 in the last ninety days. 38.55% of the stock is owned by 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.