Quest Partners LLC Has $339,000 Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Quest Partners LLC lifted its holdings in Atlassian Co. (NASDAQ:TEAM) by 18.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,135 shares of the technology company’s stock after acquiring an additional 330 shares during the quarter. Quest Partners LLC’s holdings in Atlassian were worth $339,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Swiss National Bank boosted its position in shares of Atlassian by 1.5% in the third quarter. Swiss National Bank now owns 472,867 shares of the technology company’s stock worth $75,096,000 after buying an additional 6,900 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Atlassian by 168.1% during the third quarter. Thrivent Financial for Lutherans now owns 10,270 shares of the technology company’s stock worth $1,631,000 after acquiring an additional 6,440 shares in the last quarter. Ceera Investments LLC raised its holdings in shares of Atlassian by 6.9% during the third quarter. Ceera Investments LLC now owns 26,928 shares of the technology company’s stock worth $4,276,000 after acquiring an additional 1,745 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Atlassian by 4.4% during the third quarter. CIBC Asset Management Inc now owns 31,942 shares of the technology company’s stock worth $5,073,000 after acquiring an additional 1,358 shares in the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of Atlassian by 590.6% during the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after acquiring an additional 31,986 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Insider Buying and Selling at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction 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. The trade was a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $163.81, for a total transaction of $1,301,961.88. Following the completion of the transaction, the director now owns 151,012 shares of the company’s stock, valued at $24,737,275.72. This trade represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 249,746 shares of company stock valued at $47,702,864. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Up 0.2 %

TEAM stock opened at $261.00 on Tuesday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $269.40. The company has a market cap of $67.97 billion, a PE ratio of -171.71 and a beta of 0.71. The business’s 50-day simple moving average is $196.47 and its 200 day simple moving average is $176.97. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data 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. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) earnings per share. On average, research analysts anticipate that Atlassian Co. will post -0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Scotiabank raised their target price on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and raised their target price for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Oppenheimer raised their target price on Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Morgan Stanley raised their target price on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Nine 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $244.21.

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.