Blueshift Asset Management LLC Makes New Investment in Atlassian Co. (NASDAQ:TEAM)

Blueshift Asset Management LLC bought a new position in Atlassian Co. (NASDAQ:TEAM) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 11,085 shares of the technology company’s stock, valued at approximately $1,760,000.

Several other institutional investors have also modified their holdings of TEAM. Baillie Gifford & Co. grew its holdings in shares of Atlassian by 0.9% in the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after purchasing an additional 78,454 shares during the period. Dragoneer Investment Group LLC purchased a new position in Atlassian in the second quarter worth approximately $469,803,000. FMR LLC increased its stake in Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after acquiring an additional 150,237 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Atlassian by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 783,688 shares of the technology company’s stock valued at $138,619,000 after purchasing an additional 26,555 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Atlassian by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 583,579 shares of the technology company’s stock worth $92,678,000 after purchasing an additional 12,422 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Trading Up 0.5 %

NASDAQ TEAM opened at $262.23 on Wednesday. The business’s 50-day moving average price is $200.51 and its 200 day moving average price is $178.12. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $269.40. 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 announced 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. 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 analyst estimates of $1.16 billion. During the same quarter in the previous year, the company earned ($0.07) EPS. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, sell-side analysts predict that Atlassian Co. will post -0.54 earnings per share for the current year.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $166.36, for a total value of $1,322,229.28. Following the sale, the chief executive officer now directly owns 158,960 shares in the company, valued at $26,444,585.60. This represents a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 5,172 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $190.00, for a total value of $982,680.00. Following the completion of the transaction, the chief technology officer now directly owns 204,109 shares of the company’s stock, valued at approximately $38,780,710. This trade represents a 2.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 257,694 shares of company stock worth $49,802,725 in the last 90 days. 38.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on TEAM shares. Morgan Stanley upped their target price on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Mizuho boosted their price objective on Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, November 1st. KeyCorp upgraded Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 target price for the company in a report on Friday, November 1st. Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Barclays lowered 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. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $244.21.

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.