International Assets Investment Management LLC Takes $97.35 Million Position in Atlassian Co. (NASDAQ:TEAM)

International Assets Investment Management LLC purchased a new stake in shares of Atlassian Co. (NASDAQ:TEAM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 61,301 shares of the technology company’s stock, valued at approximately $97,350,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Founders Financial Securities LLC lifted its position in Atlassian by 14.3% in the first quarter. Founders Financial Securities LLC now owns 2,099 shares of the technology company’s stock valued at $410,000 after buying an additional 263 shares during the last quarter. Diversified Trust Co lifted its position in Atlassian by 27.6% in the first quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock valued at $2,739,000 after buying an additional 3,035 shares during the last quarter. Oak Thistle LLC acquired a new position in Atlassian in the first quarter valued at about $254,000. Allspring Global Investments Holdings LLC lifted its position in Atlassian by 123.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 61,856 shares of the technology company’s stock valued at $12,069,000 after buying an additional 34,204 shares during the last quarter. Finally, Valley National Advisers Inc. lifted its position in Atlassian by 54.7% in the first quarter. Valley National Advisers Inc. now owns 896 shares of the technology company’s stock valued at $174,000 after buying an additional 317 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Insider Transactions at Atlassian

In related news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total value of $1,117,011.92. Following the completion of the sale, the chief executive officer now owns 294,076 shares in the company, valued at $41,329,441.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total value of $1,117,011.92. Following the transaction, the chief executive officer now directly owns 294,076 shares in the company, valued at approximately $41,329,441.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the sale, the chief technology officer now owns 128,957 shares of the company’s stock, valued at $18,838,038.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 230,185 shares of company stock worth $38,597,791. Insiders own 40.48% of the company’s stock.

Atlassian Price Performance

Shares of TEAM opened at $188.73 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The stock has a market cap of $49.13 billion, a PE ratio of -299.57 and a beta of 0.73. The firm has a fifty day moving average price of $169.41 and a 200 day moving average price of $171.50.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The business’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.21) EPS. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.58 EPS for the current year.

Analyst Ratings Changes

TEAM has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and upped their target price for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Oppenheimer reissued an “outperform” rating and set a $230.00 price target on shares of Atlassian in a research report on Monday, September 23rd. Piper Sandler raised shares of Atlassian from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $200.00 to $225.00 in a research report on Tuesday, July 2nd. Finally, Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a research report on Thursday, July 11th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $212.47.

Atlassian 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.