Scientech Research LLC Purchases 2,589 Shares of Atlassian Co. (NASDAQ:TEAM)

Scientech Research LLC grew its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 79.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,865 shares of the technology company's stock after buying an additional 2,589 shares during the period. Scientech Research LLC's holdings in Atlassian were worth $1,427,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Atlassian during the fourth quarter valued at about $687,486,000. Invesco Ltd. increased its holdings in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after buying an additional 1,777,179 shares during the period. Geode Capital Management LLC boosted its holdings in Atlassian by 1.3% during 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 during the period. Finally, Voya Investment Management LLC grew its position in Atlassian by 17,941.0% during the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock worth $528,693,000 after acquiring an additional 2,160,810 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TEAM. Morgan Stanley dropped their price objective on Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group raised their target price on shares of Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Robert W. Baird raised shares of Atlassian from a "neutral" rating to an "outperform" rating and decreased their price target for the stock from $320.00 to $255.00 in a research note on Monday, April 14th. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and cut their price objective for the company from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Finally, Macquarie decreased their target price on Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus target price of $285.29.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 7,674 shares of Atlassian stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $1,730,563.74. Following the completion of the transaction, the president now owns 192,260 shares in the company, valued at approximately $43,356,552.60. The trade was a 3.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $214.92, for a total transaction of $1,708,184.16. Following the transaction, the chief executive officer now owns 103,324 shares in the company, valued at $22,206,394.08. This trade represents a 7.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 295,003 shares of company stock worth $66,087,944. Company insiders own 38.55% of the company's stock.

Atlassian Stock Performance

TEAM traded down $5.32 during trading on Wednesday, hitting $209.17. The company's stock had a trading volume of 1,718,039 shares, compared to its average volume of 2,102,643. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The business's 50 day simple moving average is $213.39 and its 200-day simple moving average is $247.54. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market cap of $54.91 billion, a PE ratio of -156.10 and a beta of 1.06.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) 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 analyst estimates of $1.35 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. Atlassian's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, sell-side analysts predict that Atlassian Co. will post -0.34 EPS 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.