22,865 Shares in Atlassian Co. (NASDAQ:TEAM) Purchased by Polar Capital Holdings Plc

Polar Capital Holdings Plc bought a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, HoldingsChannel reports. The firm bought 22,865 shares of the technology company’s stock, valued at approximately $5,565,000.

Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new stake in Atlassian during the fourth quarter valued at approximately $687,486,000. Voya Investment Management LLC boosted its holdings 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 purchasing an additional 2,160,810 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Atlassian by 72.9% during the fourth 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 in the last quarter. Invesco Ltd. boosted its holdings 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 purchasing an additional 1,777,179 shares in the last quarter. Finally, Durable Capital Partners LP boosted its holdings in Atlassian by 499.7% during the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company’s stock valued at $383,456,000 after purchasing an additional 1,312,820 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $220.88 on Friday. The company has a market capitalization of $57.87 billion, a price-to-earnings ratio of -164.83 and a beta of 1.06. The firm’s 50 day simple moving average is $213.69 and its 200 day simple moving average is $246.60. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) 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 net margin of 7.22% and a negative return on equity of 17.37%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the company posted $0.89 EPS. The business’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on TEAM. Raymond James reaffirmed an “outperform” rating and set a $300.00 price objective (down from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Morgan Stanley cut their target price on shares of Atlassian from $370.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. JMP Securities reiterated a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Barclays cut their target price on shares of Atlassian from $350.00 to $260.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Finally, Macquarie cut their target price on shares of Atlassian from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Five research 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $285.29.

Insider Activity

In other news, CAO Gene Liu sold 541 shares of Atlassian stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $122,000.91. Following the completion of the sale, the chief accounting officer now owns 51,481 shares of the company’s stock, valued at approximately $11,609,480.31. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 1,723 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total value of $526,962.32. Following the completion of the transaction, the president now directly owns 199,934 shares of the company’s stock, valued at approximately $61,147,814.56. This trade represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,301 shares of company stock worth $60,975,089 in the last quarter. Corporate 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.