Brooklyn Investment Group Acquires New Shares in Atlassian Co. (NASDAQ:TEAM)

Brooklyn Investment Group bought a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the third quarter, HoldingsChannel.com reports. The firm bought 1,120 shares of the technology company’s stock, valued at approximately $178,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quantbot Technologies LP increased its position in shares of Atlassian by 277.0% in the 3rd quarter. Quantbot Technologies LP now owns 63,890 shares of the technology company’s stock valued at $10,146,000 after buying an additional 46,945 shares in the last quarter. FMR LLC grew its stake in Atlassian by 7.4% in the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after acquiring an additional 150,237 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Atlassian by 17.3% in the third quarter. The Manufacturers Life Insurance Company now owns 30,353 shares of the technology company’s stock worth $4,824,000 after acquiring an additional 4,479 shares in the last quarter. Qsemble Capital Management LP bought a new stake in shares of Atlassian in the third quarter worth about $3,446,000. Finally, Whetstone Capital Advisors LLC acquired a new stake in shares of Atlassian during the third quarter worth about $4,996,000. Institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on TEAM shares. BMO Capital Markets increased their target price on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. JMP Securities raised shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Oppenheimer boosted their price objective on shares of Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial increased their target price on Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Raymond James lifted their price target on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $244.21.

Atlassian Stock Performance

NASDAQ TEAM opened at $262.46 on Thursday. The firm has a market capitalization of $68.35 billion, a P/E ratio of -172.67 and a beta of 0.71. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm’s fifty day moving average price is $202.56 and its two-hundred day moving average price is $178.71. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $269.40.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business earned ($0.07) EPS. Atlassian’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, research analysts anticipate that Atlassian Co. will post -0.54 EPS for the current year.

Insider Buying and Selling at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $163.81, for a total value of $1,301,961.88. Following the transaction, the director now directly owns 151,012 shares of the company’s stock, valued at $24,737,275.72. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the sale, the president now directly owns 143,966 shares of the company’s stock, valued at $23,482,294.26. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 265,642 shares of company stock worth $51,882,956 over the last 90 days. Company insiders own 38.55% of the company’s stock.

About Atlassian

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.