Atlassian Co. (NASDAQ:TEAM) Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC grew its holdings in Atlassian Co. (NASDAQ:TEAM) by 17.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,699 shares of the technology company’s stock after buying an additional 1,615 shares during the period. NEOS Investment Management LLC’s holdings in Atlassian were worth $2,604,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Atlassian by 72.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Elo Mutual Pension Insurance Co increased its holdings in shares of Atlassian by 5.1% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 14,864 shares of the technology company’s stock valued at $3,618,000 after purchasing an additional 716 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Atlassian by 11.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 128,099 shares of the technology company’s stock worth $32,059,000 after buying an additional 12,952 shares during the last quarter. Korea Investment CORP boosted its stake in Atlassian by 47.7% during the fourth quarter. Korea Investment CORP now owns 170,788 shares of the technology company’s stock worth $41,566,000 after buying an additional 55,172 shares during the last quarter. Finally, Parametrica Management Ltd purchased a new stake in Atlassian in the 4th quarter valued at $232,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $229.64, for a total transaction of $1,825,178.72. Following the completion of the transaction, the director now owns 23,844 shares in the company, valued at $5,475,536.16. The trade was a 25.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the sale, the chief executive officer now owns 429,192 shares in the company, valued at $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 263,033 shares of company stock worth $70,644,164. Company insiders own 38.55% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the topic of several recent research reports. Canaccord Genuity Group boosted their price target on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Stephens began coverage on shares of Atlassian in a research note on Wednesday, March 19th. They issued an “equal weight” rating and a $255.00 price target for the company. Morgan Stanley lifted their price target on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Finally, Mizuho lifted their target price on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $316.77.

Atlassian Stock Performance

Shares of TEAM stock opened at $217.99 on Friday. The firm has a 50 day moving average of $269.28 and a two-hundred day moving average of $238.07. The stock has a market capitalization of $57.11 billion, a PE ratio of -162.68 and a beta of 0.91. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, research analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

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.