Gulf International Bank UK Ltd purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM – Get Rating) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,749 shares of the technology company’s stock, valued at approximately $3,380,000.
Several other institutional investors also recently modified their holdings of TEAM. Dimensional Fund Advisors LP increased its holdings in Atlassian by 29.9% in the first quarter. Dimensional Fund Advisors LP now owns 201,552 shares of the technology company’s stock valued at $59,233,000 after purchasing an additional 46,418 shares during the period. Cetera Investment Advisers lifted its position in shares of Atlassian by 6.0% during the 1st quarter. Cetera Investment Advisers now owns 1,755 shares of the technology company’s stock worth $516,000 after buying an additional 100 shares in the last quarter. Baird Financial Group Inc. lifted its position in shares of Atlassian by 7.9% during the 1st quarter. Baird Financial Group Inc. now owns 115,967 shares of the technology company’s stock worth $34,075,000 after buying an additional 8,491 shares in the last quarter. Pearl River Capital LLC bought a new position in shares of Atlassian during the 1st quarter worth approximately $1,163,000. Finally, USS Investment Management Ltd bought a new position in shares of Atlassian during the 1st quarter worth approximately $6,015,000. 53.17% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, CEO Scott Farquhar sold 8,614 shares of the company’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $157.59, for a total transaction of $1,357,480.26. Following the completion of the transaction, the chief executive officer now directly owns 17,228 shares of the company’s stock, valued at $2,714,960.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Scott Farquhar sold 8,614 shares of the company’s stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $157.59, for a total transaction of $1,357,480.26. Following the completion of the transaction, the chief executive officer now directly owns 17,228 shares of the company’s stock, valued at $2,714,960.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Enrique T. Salem sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $130.00, for a total transaction of $1,300,000.00. Following the transaction, the director now directly owns 124,162 shares of the company’s stock, valued at $16,141,060. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 338,655 shares of company stock valued at $53,453,242. Insiders own 43.11% of the company’s stock.
Wall Street Analyst Weigh In
TEAM has been the topic of several recent analyst reports. BMO Capital Markets dropped their target price on shares of Atlassian from $190.00 to $155.00 in a research report on Friday, May 5th. The Goldman Sachs Group cut shares of Atlassian from a “buy” rating to a “neutral” rating and lowered their target price for the company from $240.00 to $165.00 in a report on Friday, May 5th. Barclays lowered their target price on shares of Atlassian from $155.00 to $130.00 in a report on Sunday, May 7th. StockNews.com initiated coverage on shares of Atlassian in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Mizuho lowered their target price on shares of Atlassian from $235.00 to $215.00 in a report on Friday, May 5th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $199.32.
Atlassian Stock Performance
Atlassian stock opened at $162.41 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $41.74 billion, a PE ratio of -78.46 and a beta of 0.81. The firm has a fifty day simple moving average of $159.91 and a two-hundred day simple moving average of $156.31. Atlassian Co. has a twelve month low of $113.86 and a twelve month high of $300.29.
Atlassian (NASDAQ:TEAM – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.15). The business had revenue of $915.45 million during the quarter, compared to the consensus estimate of $898.71 million. Atlassian had a negative return on equity of 79.71% and a negative net margin of 15.89%. Research analysts expect that Atlassian Co. will post -0.8 EPS for the current year.
Atlassian Profile
Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Atlassian, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Atlassian wasn’t on the list.
While Atlassian currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
If a company’s CEO, COO, and CFO were all selling shares of their stock, would you want to know?
