Brooklyn Investment Group Makes New $178,000 Investment in Atlassian Co. (NASDAQ:TEAM)

Brooklyn Investment Group purchased a new position in Atlassian Co. (NASDAQ:TEAM) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,120 shares of the technology company’s stock, valued at approximately $178,000.

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

Insider Buying and Selling

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Friday, August 30th. The stock was sold at an average price of $166.36, for a total value of $1,322,229.28. Following the completion of the sale, the chief executive officer now directly owns 158,960 shares of the company’s stock, valued at approximately $26,444,585.60. This trade represents a 4.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction 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 transaction, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 265,642 shares of company stock worth $51,882,956 in the last 90 days. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

NASDAQ TEAM opened at $262.46 on Thursday. The firm 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 current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $269.40. The company has a 50 day moving average of $202.56 and a 200-day moving average of $178.71.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results 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 firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business’s revenue was up 21.5% on a year-over-year basis. During the same period last year, the firm posted ($0.07) EPS. On average, equities analysts forecast that Atlassian Co. will post -0.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Oppenheimer upped their price target on Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Scotiabank raised their price target on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. UBS Group boosted their price objective on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, KeyCorp upgraded shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 target price for the company in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

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.