Gateway Investment Advisers LLC Buys 210 Shares of Atlassian Co. (NASDAQ:TEAM)

Gateway Investment Advisers LLC raised its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 5.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,153 shares of the technology company’s stock after buying an additional 210 shares during the period. Gateway Investment Advisers LLC’s holdings in Atlassian were worth $881,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TEAM. JPMorgan Chase & Co. raised its holdings in Atlassian by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after buying an additional 131,621 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Atlassian by 37.8% during the fourth quarter. Bleakley Financial Group LLC now owns 3,193 shares of the technology company’s stock valued at $777,000 after buying an additional 876 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Atlassian by 2.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 376,765 shares of the technology company’s stock valued at $91,697,000 after buying an additional 10,511 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Atlassian by 18.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,198 shares of the technology company’s stock valued at $3,699,000 after buying an additional 2,400 shares in the last quarter. Finally, Empowered Funds LLC grew its position in shares of Atlassian by 39.6% in the fourth quarter. Empowered Funds LLC now owns 3,361 shares of the technology company’s stock valued at $818,000 after purchasing an additional 953 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Atlassian Stock Down 1.9%

NASDAQ TEAM opened at $214.51 on Monday. 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 stock’s 50 day moving average is $209.80 and its two-hundred day moving average is $244.62. The company has a market capitalization of $56.31 billion, a price-to-earnings ratio of -160.08 and a beta of 0.96. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned $0.89 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Equities analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Joseph Leo Binz sold 3,027 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total value of $682,618.77. Following the completion of the transaction, the chief financial officer now owns 164,559 shares in the company, valued at $37,109,700.09. The trade was a 1.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $234.38, for a total transaction of $1,862,852.24. Following the completion of the transaction, the director now owns 39,740 shares of the company’s stock, valued at $9,314,261.20. This trade represents a 16.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 329,047 shares of company stock worth $70,283,469. Insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the topic of several research analyst reports. Robert W. Baird raised Atlassian from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $320.00 to $255.00 in a research report on Monday, April 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $300.00 price target (down from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Jefferies Financial Group lowered their price target on Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. UBS Group lowered their price target on Atlassian from $230.00 to $215.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Finally, Morgan Stanley lowered their price target on Atlassian from $370.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $285.29.

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.