SRS Capital Advisors Inc. increased its stake in shares of Atlassian Co. (NASDAQ:TEAM – Get Rating) by 51.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,227 shares of the technology company’s stock after purchasing an additional 416 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Atlassian were worth $158,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in TEAM. Baillie Gifford & Co. lifted its stake in Atlassian by 40.4% in the fourth quarter. Baillie Gifford & Co. now owns 7,643,211 shares of the technology company’s stock valued at $983,528,000 after acquiring an additional 2,199,990 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Atlassian by 7.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 49,767 shares of the technology company’s stock valued at $6,404,000 after acquiring an additional 3,314 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Atlassian by 64.9% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,385 shares of the technology company’s stock valued at $693,000 after acquiring an additional 2,120 shares during the last quarter. Tiger Global Management LLC lifted its stake in Atlassian by 13.2% in the third quarter. Tiger Global Management LLC now owns 1,722,503 shares of the technology company’s stock valued at $362,742,000 after acquiring an additional 200,703 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in Atlassian by 29.7% in the fourth quarter. IFP Advisors Inc now owns 1,261 shares of the technology company’s stock valued at $299,000 after acquiring an additional 289 shares during the last quarter. 45.50% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
TEAM has been the subject of a number of analyst reports. Barclays reduced their target price on shares of Atlassian from $155.00 to $130.00 in a research note on Sunday, May 7th. Mizuho reduced their price objective on shares of Atlassian from $235.00 to $215.00 in a research note on Friday, May 5th. Robert W. Baird reduced their price objective on shares of Atlassian from $190.00 to $175.00 in a research note on Friday, May 5th. Oppenheimer restated an “outperform” rating and issued a $200.00 price objective on shares of Atlassian in a research note on Monday, April 17th. Finally, KeyCorp boosted their price objective on shares of Atlassian from $174.00 to $187.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $199.32.
Atlassian Stock Performance
Atlassian (NASDAQ:TEAM – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.15). The business had revenue of $915.45 million during the quarter, compared to the consensus estimate of $898.71 million. Atlassian had a negative net margin of 15.89% and a negative return on equity of 79.71%. Analysts anticipate that Atlassian Co. will post -0.8 earnings per share for the current year.
Insider Buying and Selling at Atlassian
In other news, President Anutthara Bharadwaj sold 4,699 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $142.53, for a total value of $669,748.47. Following the sale, the president now owns 213,479 shares in the company, valued at approximately $30,427,161.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Anutthara Bharadwaj sold 4,699 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $142.53, for a total value of $669,748.47. Following the sale, the president now owns 213,479 shares in the company, valued at approximately $30,427,161.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott Farquhar sold 8,614 shares of the business’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $152.93, for a total transaction of $1,317,339.02. Following the completion of the sale, the chief executive officer now owns 68,912 shares in the company, valued at approximately $10,538,712.16. The disclosure for this sale can be found here. Insiders have sold 339,401 shares of company stock valued at $53,237,591 in the last 90 days. 43.11% of the stock is currently owned by company insiders.
About Atlassian
Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.
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