Quantbot Technologies LP Purchases 46,945 Shares of Atlassian Co. (NASDAQ:TEAM)

Quantbot Technologies LP boosted its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 277.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,890 shares of the technology company's stock after purchasing an additional 46,945 shares during the quarter. Atlassian comprises 0.4% of Quantbot Technologies LP's holdings, making the stock its 26th largest holding. Quantbot Technologies LP's holdings in Atlassian were worth $10,146,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TEAM. FMR LLC raised its position in shares of Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company's stock worth $346,679,000 after purchasing an additional 150,237 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Atlassian by 17.3% during the third quarter. The Manufacturers Life Insurance Company now owns 30,353 shares of the technology company's stock worth $4,824,000 after acquiring an additional 4,479 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in shares of Atlassian in the 3rd quarter worth about $3,446,000. Whetstone Capital Advisors LLC bought a new position in Atlassian in the 3rd quarter valued at about $4,996,000. Finally, Brown Brothers Harriman & Co. boosted its stake in Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company's stock valued at $69,000 after purchasing an additional 82 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company's stock.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 760 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the transaction, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. The trade was a 0.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $166.36, for a total transaction of $1,322,229.28. Following the transaction, the chief executive officer now owns 158,960 shares in the company, valued at $26,444,585.60. This represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 257,694 shares of company stock worth $49,802,725 over the last 90 days. 38.55% of the stock is owned by company insiders.

Atlassian Trading Up 0.5 %

Atlassian stock traded up $1.23 during mid-day trading on Tuesday, hitting $262.23. The company's stock had a trading volume of 1,345,698 shares, compared to its average volume of 1,872,009. The business has a 50 day moving average price of $198.38 and a 200-day moving average price of $177.54. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $269.40. The stock has a market cap of $68.29 billion, a price-to-earnings ratio of -171.71 and a beta of 0.71.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS 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 analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.07) EPS. As a group, analysts forecast that Atlassian Co. will post -0.56 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. The Goldman Sachs Group raised Atlassian from a "neutral" rating to a "buy" rating and lifted their target price for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Jefferies Financial Group increased their price target on Atlassian from $280.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Raymond James boosted their price objective on Atlassian from $200.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. KeyCorp upgraded Atlassian from a "sector weight" rating to an "overweight" rating and set a $260.00 target price on the stock in a research note on Friday, November 1st. Finally, Robert W. Baird increased their price target on shares of Atlassian from $175.00 to $200.00 and gave the company a "neutral" rating in a research report 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $244.21.

About Atlassian

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.