LMR Partners LLP Buys Shares of 55,500 Atlassian Co. (NASDAQ:TEAM)

LMR Partners LLP bought a new position in shares of Atlassian Co. (NASDAQ:TEAM) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 55,500 shares of the technology company’s stock, valued at approximately $8,814,000.

Other institutional investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC lifted its position in shares of Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after purchasing an additional 520 shares during the period. Impax Asset Management Group plc lifted its stake in shares of Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after buying an additional 31,986 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Atlassian during the third quarter worth about $97,350,000. Aigen Investment Management LP purchased a new stake in shares of Atlassian in the 3rd quarter valued at approximately $2,232,000. Finally, National Pension Service increased its stake in Atlassian by 8.4% during the 3rd quarter. National Pension Service now owns 296,066 shares of the technology company’s stock worth $47,018,000 after buying an additional 22,883 shares during the period. Institutional investors own 93.03% of the company’s stock.

Insider Activity at Atlassian

In related news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $164.81, for a total transaction of $1,309,909.88. Following the completion of the sale, the chief executive officer now directly owns 182,804 shares in the company, valued at $30,127,927.24. This represents a 4.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction dated 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 owns 143,966 shares of the company’s stock, valued at $23,482,294.26. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,248 shares of company stock worth $45,553,294 in the last ninety days. 38.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on TEAM shares. KeyCorp upgraded shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target for the company in a research note on Friday, November 1st. Robert W. Baird raised their target price on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and lifted their price target for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Scotiabank lifted their price target on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Finally, Barclays reduced their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $244.21.

Atlassian Trading Down 4.0 %

NASDAQ TEAM opened at $240.04 on Monday. The stock’s 50-day moving average is $187.95 and its 200-day moving average is $174.60. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The firm has a market cap of $62.51 billion, a P/E ratio of -157.92 and a beta of 0.71. 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 (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.16 billion. During the same period last year, the company earned ($0.07) earnings per share. The business’s revenue was up 21.5% compared to the same quarter last year. Sell-side analysts anticipate that Atlassian Co. will post -0.56 earnings per share 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.