Atlassian Co. (NASDAQ:TEAM) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. raised its holdings in Atlassian Co. (NASDAQ:TEAM) by 23.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 436 shares of the technology company’s stock after buying an additional 82 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Atlassian were worth $69,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Dragoneer Investment Group LLC acquired a new stake in Atlassian in the 2nd quarter worth approximately $469,803,000. Manning & Napier Advisors LLC acquired a new stake in shares of Atlassian during the second quarter worth $91,072,000. Westfield Capital Management Co. LP purchased a new stake in shares of Atlassian during the third quarter valued at $57,149,000. Parnassus Investments LLC increased its position in shares of Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after acquiring an additional 245,286 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Atlassian by 657.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 239,509 shares of the technology company’s stock valued at $42,364,000 after acquiring an additional 207,891 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insider Activity at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $159.81, for a total transaction of $1,270,169.88. Following the transaction, the chief executive officer now directly owns 500,724 shares in the company, valued at $80,020,702.44. The trade was a 1.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the 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 sale, the president now directly owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 257,694 shares of company stock valued at $50,560,726. 38.55% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on TEAM. Jefferies Financial Group boosted their price target on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Barclays decreased their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Morgan Stanley increased their price objective on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, JMP Securities upgraded shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $244.21.

Atlassian Stock Performance

TEAM opened at $262.46 on Friday. The firm’s fifty day simple moving average is $204.55 and its two-hundred day simple moving average is $179.29. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $269.40. The company has a market cap of $68.35 billion, a price-to-earnings ratio of -172.67 and a beta of 0.71. 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 posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm posted ($0.07) EPS. Atlassian’s revenue was up 21.5% compared to the same quarter last year. Equities analysts anticipate that Atlassian Co. will post -0.54 earnings per share for the current fiscal year.

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.