Atlassian Co. (NASDAQ:TEAM) Shares Acquired by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. lifted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 66.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,120 shares of the technology company’s stock after acquiring an additional 2,842 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in Atlassian were worth $1,733,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of TEAM. Public Employees Retirement System of Ohio acquired a new position in Atlassian during the 4th quarter worth $16,461,000. Vise Technologies Inc. boosted its stake in shares of Atlassian by 40.9% in the 4th quarter. Vise Technologies Inc. now owns 1,784 shares of the technology company’s stock valued at $434,000 after buying an additional 518 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Atlassian by 19.6% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 111,681 shares of the technology company’s stock worth $27,181,000 after buying an additional 18,267 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Atlassian by 13.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,373,394 shares of the technology company’s stock worth $334,257,000 after buying an additional 163,043 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its stake in shares of Atlassian by 210.6% during the fourth quarter. Voloridge Investment Management LLC now owns 573,519 shares of the technology company’s stock worth $139,583,000 after buying an additional 388,870 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TEAM. Cantor Fitzgerald upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Wells Fargo & Company reduced their price target on shares of Atlassian from $330.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. BMO Capital Markets decreased their price objective on shares of Atlassian from $295.00 to $245.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Jefferies Financial Group cut their target price on Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Finally, Oppenheimer boosted their target price on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $285.29.

Insider Activity

In other news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $283.26, for a total value of $2,251,350.48. Following the sale, the director now directly owns 198,700 shares in the company, valued at $56,283,762. This represents a 3.85% 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, President Anutthara Bharadwaj sold 7,674 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total value of $1,730,563.74. Following the sale, the president now owns 192,260 shares in the company, valued at approximately $43,356,552.60. This trade represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 287,055 shares of company stock worth $63,723,335 over the last 90 days. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $208.37 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The firm has a market capitalization of $54.70 billion, a P/E ratio of -155.50 and a beta of 1.06. The company’s fifty day moving average is $213.08 and its two-hundred day moving average is $246.97.

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

Atlassian Company 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.