Bamco Inc. NY Has $33.19 Million Stake in Atlassian Co. (NASDAQ:TEAM)

Bamco Inc. NY increased its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 10.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 136,380 shares of the technology company's stock after acquiring an additional 12,362 shares during the period. Bamco Inc. NY owned approximately 0.05% of Atlassian worth $33,192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Benchstone Capital Management LP acquired a new stake in shares of Atlassian in the fourth quarter valued at $26,842,000. Benjamin Edwards Inc. acquired a new position in Atlassian during the fourth quarter worth approximately $276,000. BNP Paribas acquired a new stake in Atlassian during the 4th quarter worth $1,260,000. BNP Paribas Financial Markets purchased a new position in shares of Atlassian during the fourth quarter worth about $298,327,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of Atlassian by 446.4% in the fourth quarter. Ameriprise Financial Inc. now owns 680,320 shares of the technology company's stock valued at $165,576,000 after purchasing an additional 555,815 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Gene Liu sold 568 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $312.08, for a total value of $177,261.44. Following the sale, the chief accounting officer now directly owns 52,142 shares of the company's stock, valued at approximately $16,272,475.36. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88. Following the completion of the sale, the chief executive officer now directly owns 270,232 shares of the company's stock, valued at $87,098,475.92. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 260,734 shares of company stock worth $62,944,544. 38.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TEAM. Mizuho upped their price target on shares of Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and decreased their price target for the stock from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Baird R W upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Canaccord Genuity Group decreased their price target on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Scotiabank increased their target price on shares of Atlassian from $250.00 to $330.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $285.29.

Atlassian Stock Performance

NASDAQ TEAM traded down $2.18 on Wednesday, hitting $205.71. The stock had a trading volume of 2,203,106 shares, compared to its average volume of 2,078,968. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The stock has a market cap of $53.90 billion, a price-to-earnings ratio of -153.51 and a beta of 1.06. The company's 50-day moving average is $219.57 and its two-hundred day moving average is $245.69. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter last year, the business posted $0.89 earnings per share. The company's quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

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.