Engineers Gate Manager LP Acquires 97,767 Shares of Atlassian Corporation PLC $TEAM

Engineers Gate Manager LP increased its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 59.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 262,308 shares of the technology company’s stock after purchasing an additional 97,767 shares during the period. Atlassian accounts for 0.7% of Engineers Gate Manager LP’s investment portfolio, making the stock its 7th largest holding. Engineers Gate Manager LP owned 0.10% of Atlassian worth $53,272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Townsquare Capital LLC boosted its stake in shares of Atlassian by 41.1% during the first quarter. Townsquare Capital LLC now owns 2,896 shares of the technology company’s stock worth $615,000 after buying an additional 844 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in Atlassian by 1.9% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,220 shares of the technology company’s stock valued at $1,108,000 after acquiring an additional 97 shares during the period. Vestmark Advisory Solutions Inc. raised its stake in Atlassian by 72.6% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 4,910 shares of the technology company’s stock valued at $1,042,000 after acquiring an additional 2,065 shares during the last quarter. Azimuth Capital Investment Management LLC lifted its position in Atlassian by 58.8% during the 1st quarter. Azimuth Capital Investment Management LLC now owns 47,237 shares of the technology company’s stock worth $10,024,000 after acquiring an additional 17,500 shares during the period. Finally, Aberdeen Group plc lifted its position in Atlassian by 122.4% during the 1st quarter. Aberdeen Group plc now owns 101,741 shares of the technology company’s stock worth $21,590,000 after acquiring an additional 55,993 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $165.26, for a total value of $1,266,717.90. Following the completion of the transaction, the chief executive officer directly owned 15,330 shares of the company’s stock, valued at $2,533,435.80. This trade represents a 33.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 9,847 shares of Atlassian stock in a transaction on Friday, November 14th. The stock was sold at an average price of $152.46, for a total value of $1,501,273.62. Following the transaction, the president directly owned 242,092 shares of the company’s stock, valued at approximately $36,909,346.32. This represents a 3.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 581,181 shares of company stock valued at $91,738,233. Corporate insiders own 36.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TEAM. Bank of America initiated coverage on Atlassian in a report on Tuesday, September 23rd. They issued a “neutral” rating and a $200.00 target price on the stock. UBS Group lowered their price objective on shares of Atlassian from $215.00 to $185.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Robert W. Baird set a $230.00 price objective on shares of Atlassian in a research note on Friday, October 31st. Mizuho raised their target price on shares of Atlassian from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, BMO Capital Markets lifted their target price on shares of Atlassian from $190.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $240.00.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $162.04 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. Atlassian Corporation PLC has a one year low of $139.70 and a one year high of $326.00. The firm has a market capitalization of $42.63 billion, a P/E ratio of -228.22, a PEG ratio of 30.79 and a beta of 0.89. The company’s fifty day moving average is $155.86 and its two-hundred day moving average is $175.77.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The business’s revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. Analysts forecast that Atlassian Corporation PLC 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.