Mercer Global Advisors Inc. ADV Acquires New Shares in Atlassian Co. (NASDAQ:TEAM)

Mercer Global Advisors Inc. ADV bought a new position in Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 18,925 shares of the technology company's stock, valued at approximately $4,606,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEAM. JPMorgan Chase & Co. increased its position in Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after buying an additional 1,806,042 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Atlassian during the 4th quarter worth about $687,486,000. Invesco Ltd. increased its holdings in shares of Atlassian by 265.9% during the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock valued at $595,171,000 after acquiring an additional 1,777,179 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Atlassian by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock valued at $528,851,000 after acquiring an additional 27,899 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in Atlassian by 17,941.0% in the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock worth $528,693,000 after purchasing an additional 2,160,810 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Performance

NASDAQ:TEAM opened at $207.78 on Tuesday. The stock has a market capitalization of $54.44 billion, a P/E ratio of -155.06 and a beta of 1.06. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The firm has a 50 day moving average of $220.99 and a 200-day moving average of $245.96. The company has a current ratio of 1.24, a quick 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 EPS for the quarter, topping 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 company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The business's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $185.61, for a total value of $1,475,228.28. Following the completion of the transaction, the director now owns 333,816 shares in the company, valued at $61,959,587.76. The trade was a 2.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joseph Leo Binz sold 2,587 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $312.09, for a total value of $807,376.83. Following the completion of the transaction, the chief financial officer now owns 169,342 shares in the company, valued at $52,849,944.78. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 260,734 shares of company stock valued at $63,835,594. Insiders own 38.55% of the company's stock.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of recent analyst reports. Macquarie dropped their price target on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday. JMP Securities reiterated a "market perform" rating on shares of Atlassian in a report on Friday, January 31st. Scotiabank upped their price target on shares of Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a report on Friday, January 31st. Barclays dropped their price objective on Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a research note on Monday. Finally, StockNews.com cut Atlassian from a "buy" rating to a "hold" rating in a research report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $285.29.

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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