University of Texas Texas AM Investment Management Co. Acquires 2,842 Shares of Atlassian Co. (NASDAQ:TEAM)

University of Texas Texas AM Investment Management Co. raised its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 66.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,120 shares of the technology company's stock after purchasing 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 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock valued at $393,588,000 after purchasing an additional 131,621 shares during the period. Merit Financial Group LLC purchased a new position in shares of Atlassian during the fourth quarter valued at $726,000. HB Wealth Management LLC raised its holdings in shares of Atlassian by 17.9% in the fourth quarter. HB Wealth Management LLC now owns 1,502 shares of the technology company's stock valued at $366,000 after acquiring an additional 228 shares in the last quarter. Harbor Investment Advisory LLC lifted its position in shares of Atlassian by 1,878.3% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,187 shares of the technology company's stock worth $289,000 after purchasing an additional 1,127 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new stake in Atlassian during the fourth quarter worth $262,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Joseph Leo Binz sold 3,027 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $682,618.77. Following the completion of the transaction, the chief financial officer now directly owns 164,559 shares in the company, valued at approximately $37,109,700.09. This represents a 1.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $283.26, for a total transaction of $2,251,350.48. Following the completion of the sale, the director now owns 198,700 shares in the company, valued at approximately $56,283,762. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 287,055 shares of company stock valued at $63,723,335 in the last three months. 38.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on TEAM. Baird R W upgraded shares of Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Canaccord Genuity Group lowered their target price on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. BMO Capital Markets decreased their price target on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company reduced their target price on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Finally, Scotiabank increased their price objective on Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a report on Friday, January 31st. Five investment 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, Atlassian has an average rating of "Moderate Buy" and an average target price of $285.29.

Atlassian Stock Performance

NASDAQ:TEAM opened at $208.37 on Friday. The stock has a market capitalization of $54.70 billion, a PE ratio of -155.50 and a beta of 1.06. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a fifty day moving average of $213.08 and a two-hundred day moving average of $246.97. 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 (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the firm posted $0.89 EPS. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Atlassian 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.

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