Vinva Investment Management Ltd Acquires 15,711 Shares of Atlassian Co. (NASDAQ:TEAM)

Vinva Investment Management Ltd lifted its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 234.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,409 shares of the technology company's stock after acquiring an additional 15,711 shares during the quarter. Vinva Investment Management Ltd's holdings in Atlassian were worth $5,537,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company's stock worth $565,424,000 after purchasing an additional 8,957 shares during the period. JPMorgan Chase & Co. boosted its holdings in Atlassian by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock worth $393,588,000 after buying an additional 131,621 shares during the period. FMR LLC increased its stake in 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 in the last quarter. Geode Capital Management LLC raised its holdings in Atlassian by 2.8% during the third quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company's stock valued at $340,453,000 after acquiring an additional 57,911 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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. 94.45% of the stock is owned by hedge funds and other institutional investors.

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Atlassian Trading Up 3.2 %

Shares of TEAM traded up $7.28 during mid-day trading on Monday, reaching $234.62. 1,897,222 shares of the company's stock traded hands, compared to its average volume of 1,941,152. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock's 50-day moving average is $271.24 and its two-hundred day moving average is $236.81. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The stock has a market cap of $61.47 billion, a P/E ratio of -175.09 and a beta of 0.91.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TEAM has been the subject of several research analyst reports. William Blair reiterated an "outperform" rating on shares of Atlassian in a research report on Friday, January 31st. Raymond James reaffirmed an "outperform" rating and set a $330.00 price objective (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. BMO Capital Markets upgraded shares of Atlassian from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Scotiabank lifted their price target on shares of Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a report on Friday, January 31st. Finally, Canaccord Genuity Group increased their price objective on shares of Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a report on Friday, December 20th. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Atlassian has a consensus rating of "Moderate Buy" and a consensus target price of $316.77.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the transaction, the president now owns 210,471 shares of the company's stock, valued at approximately $54,690,889.35. This represents a 0.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $226.93, for a total value of $1,803,639.64. Following the completion of the sale, the chief executive officer now owns 55,636 shares of the company's stock, valued at $12,625,477.48. The trade was a 12.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,033 shares of company stock valued at $71,015,177 in the last 90 days. Company insiders own 38.55% of the company's stock.

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.