Engineers Gate Manager LP Grows Holdings in Atlassian Corporation PLC $TEAM

Engineers Gate Manager LP grew its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 37.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,291 shares of the technology company’s stock after acquiring an additional 20,872 shares during the period. Engineers Gate Manager LP’s holdings in Atlassian were worth $6,012,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TEAM. California State Teachers Retirement System grew its position in shares of Atlassian by 7,498.4% during the 2nd quarter. California State Teachers Retirement System now owns 17,767,858 shares of the technology company’s stock valued at $1,382,162,000 after buying an additional 17,534,021 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Atlassian by 291.4% during the 4th quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock valued at $1,256,535,000 after purchasing an additional 5,769,788 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Atlassian by 27.4% during the first quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company’s stock valued at $343,344,000 after buying an additional 1,080,561 shares in the last quarter. Morgan Stanley grew its position in Atlassian by 52.4% in the fourth quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock worth $781,841,000 after acquiring an additional 1,657,309 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Atlassian by 3.3% during the 4th quarter. State Street Corp now owns 3,995,100 shares of the technology company’s stock worth $647,766,000 after purchasing an additional 127,105 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Atlassian Stock Performance

NASDAQ:TEAM opened at $179.70 on Friday. The stock has a market capitalization of $45.60 billion, a P/E ratio of -945.79, a price-to-earnings-growth ratio of 14.11 and a beta of 1.15. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $198.60. The firm has a 50 day moving average of $135.92 and a 200-day moving average of $99.08.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%.The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.66 billion. The business’s revenue was up 27.6% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. As a group, sell-side analysts anticipate that Atlassian Corporation PLC will post 0.94 EPS for the current fiscal year.

Insider Activity

In related news, CAO Gene Liu sold 939 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $190.00, for a total value of $178,410.00. Following the completion of the sale, the chief accounting officer owned 55,868 shares of the company’s stock, valued at $10,614,920. This trade represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Brian Duffy sold 1,851 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $319,204.95. Following the sale, the executive owned 218,223 shares of the company’s stock, valued at approximately $37,632,556.35. The trade was a 0.84% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 22,138 shares of company stock valued at $3,751,873 over the last three months. 36.66% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Citigroup raised their price target on shares of Atlassian from $170.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, September 1st. BTIG Research increased their target price on shares of Atlassian from $180.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Atlassian in a research report on Friday, July 17th. Bank of America boosted their price target on Atlassian from $175.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $126.00 price target on shares of Atlassian in a report on Monday, August 3rd. Twenty-five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $183.81.

Atlassian Profile

Atlassian Corporation develops collaboration, productivity and workflow software for software development, information technology, business and other teams. Its products are designed to help organizations plan projects, manage work, share knowledge, improve service delivery and coordinate across departments.

Its product portfolio includes Jira for project and issue tracking, Confluence for collaboration and knowledge management, Jira Service Management for IT and business service workflows, Trello for organizing tasks and projects, Bitbucket for source-code management, and Loom for video messaging.