Point72 Hong Kong Ltd Boosts Stock Position in Atlassian Co. (NASDAQ:TEAM)

Point72 Hong Kong Ltd grew its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 90.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,799 shares of the technology company's stock after acquiring an additional 22,261 shares during the period. Point72 Hong Kong Ltd's holdings in Atlassian were worth $7,432,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. boosted its position in Atlassian by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company's stock valued at $1,352,115,000 after acquiring an additional 78,454 shares in the last quarter. Dragoneer Investment Group LLC purchased a new stake in shares of Atlassian during the second quarter valued at about $469,803,000. FMR LLC grew its position in shares of Atlassian by 7.4% in the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company's stock worth $346,679,000 after buying an additional 150,237 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Atlassian by 5.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,210,351 shares of the technology company's stock valued at $192,216,000 after acquiring an additional 58,536 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Atlassian by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 783,688 shares of the technology company's stock worth $138,619,000 after purchasing an additional 26,555 shares during the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $163.81, for a total value of $1,301,961.88. Following the transaction, the director now directly owns 151,012 shares in the company, valued at approximately $24,737,275.72. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 760 shares of the firm's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the sale, the president now directly owns 143,966 shares of the company's stock, valued at approximately $23,482,294.26. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 257,694 shares of company stock worth $50,560,726 in the last three months. 38.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group raised their price objective on Atlassian from $180.00 to $205.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Mizuho boosted their price target on Atlassian from $200.00 to $240.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Canaccord Genuity Group increased their price objective on Atlassian from $225.00 to $255.00 and gave the company a "buy" rating in a report on Friday, November 1st. BMO Capital Markets raised their price target on shares of Atlassian from $177.00 to $255.00 and gave the stock a "market perform" rating in a research report on Friday, November 1st. Finally, Barclays dropped their price objective on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $244.21.

Atlassian Price Performance

TEAM stock traded up $1.12 during trading on Friday, hitting $263.58. The stock had a trading volume of 828,438 shares, compared to its average volume of 2,642,883. The company's 50-day moving average price is $206.56 and its two-hundred day moving average price is $179.82. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $269.40. 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 (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS 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 firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the previous year, the business earned ($0.07) earnings per share. The firm's revenue for the quarter was up 21.5% on a year-over-year basis. As a group, equities research analysts anticipate that Atlassian Co. will post -0.54 EPS for the current fiscal 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.