Atlassian Co. (NASDAQ:TEAM) Shares Bought by GAMMA Investing LLC

by · The Cerbat Gem

GAMMA Investing LLC lifted its holdings in shares of Atlassian Co. (NASDAQ:TEAM – Free Report) by 41,683.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 121,172 shares of the technology company’s stock after acquiring an additional 120,882 shares during the quarter. GAMMA Investing LLC’s holdings in Atlassian were worth $25,714,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in shares of Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after acquiring an additional 1,806,042 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Atlassian during the fourth quarter valued at approximately $687,486,000. Invesco Ltd. raised its stake in Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock valued at $595,171,000 after buying an additional 1,777,179 shares in the last quarter. Geode Capital Management LLC raised its stake in Atlassian by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company’s stock valued at $528,851,000 after buying an additional 27,899 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in Atlassian by 17,941.0% during the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock valued at $528,693,000 after buying an additional 2,160,810 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several research reports. Macquarie cut their price objective on Atlassian from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Cantor Fitzgerald raised Atlassian from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $304.00 to $272.00 in a report on Wednesday, April 2nd. KeyCorp lowered their target price on Atlassian from $365.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Barclays lowered their target price on Atlassian from $350.00 to $260.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Finally, Jefferies Financial Group lowered their target price on Atlassian from $330.00 to $262.00 and set a “buy” rating for the company in a report on Monday, April 7th. Four equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $285.29.

Read Our Latest Report on TEAM

Atlassian Stock Performance

Shares of Atlassian stock opened at $210.92 on Thursday. The company has a 50 day moving average of $209.85 and a 200-day moving average of $245.30. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a market cap of $55.37 billion, a PE ratio of -157.40 and a beta of 1.06.

Atlassian (NASDAQ:TEAM – Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the company earned $0.89 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 333,816 shares of the company’s stock, valued at approximately $61,959,587.76. This trade represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 7,674 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total transaction of $1,730,563.74. Following the transaction, the president now directly owns 192,260 shares in the company, valued at $43,356,552.60. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 318,847 shares of company stock valued at $68,108,644 over the last ninety days. 38.55% of the stock is owned by corporate insiders.

Atlassian Profile

(Free Report)

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.

Further Reading

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