Janus Henderson Group PLC Purchases 86,981 Shares of Atlassian Co. (NASDAQ:TEAM)

Janus Henderson Group PLC grew its position in Atlassian Co. (NASDAQ:TEAM) by 559.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 102,531 shares of the technology company’s stock after buying an additional 86,981 shares during the quarter. Janus Henderson Group PLC’s holdings in Atlassian were worth $24,952,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Jasper Ridge Partners L.P. bought a new stake in shares of Atlassian in the fourth quarter valued at about $253,000. Jefferies Financial Group Inc. bought a new stake in Atlassian during the fourth quarter worth about $1,702,000. Hudson Bay Capital Management LP raised its holdings in Atlassian by 61.0% during the fourth quarter. Hudson Bay Capital Management LP now owns 73,004 shares of the technology company’s stock worth $17,768,000 after acquiring an additional 27,652 shares in the last quarter. Gotham Asset Management LLC raised its holdings in Atlassian by 17.0% during the fourth quarter. Gotham Asset Management LLC now owns 20,142 shares of the technology company’s stock worth $4,902,000 after acquiring an additional 2,926 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in Atlassian during the fourth quarter worth about $756,000. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TEAM has been the topic of several analyst reports. BMO Capital Markets dropped their target price on Atlassian from $295.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Canaccord Genuity Group dropped their target price on Atlassian from $300.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Citigroup upped their target price on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Macquarie dropped their target price on Atlassian from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Finally, UBS Group dropped their target price on Atlassian from $230.00 to $215.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.29.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $313.95, for a total transaction of $2,495,274.60. Following the sale, the chief executive officer now owns 230,492 shares of the company’s stock, valued at $72,362,963.40. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 1,723 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total value of $526,962.32. Following the sale, the president now directly owns 199,934 shares in the company, valued at $61,147,814.56. This represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 267,301 shares of company stock valued at $60,975,089. 38.55% of the stock is owned by insiders.

Atlassian Price Performance

Atlassian stock opened at $220.88 on Friday. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The stock’s 50 day moving average is $213.69 and its 200-day moving average is $246.60. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $57.87 billion, a price-to-earnings ratio of -164.83 and a beta of 1.06.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts expect that Atlassian Co. will post -0.34 EPS for the current 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.