SkyView Investment Advisors LLC Has $656,000 Stake in Atlassian Co. (NASDAQ:TEAM)

SkyView Investment Advisors LLC increased its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 3.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,128 shares of the technology company’s stock after buying an additional 122 shares during the quarter. SkyView Investment Advisors LLC’s holdings in Atlassian were worth $656,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dragoneer Investment Group LLC acquired a new stake in shares of Atlassian during the 2nd quarter valued at $469,803,000. Point72 Asset Management L.P. boosted its position in Atlassian by 760.5% during the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after purchasing an additional 617,566 shares during the last quarter. Two Sigma Advisers LP boosted its position in Atlassian by 122.0% during the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after purchasing an additional 551,500 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in Atlassian in the 3rd quarter worth about $57,149,000. Finally, Parnassus Investments LLC raised its stake in shares of Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after purchasing an additional 245,286 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $165.03, for a total transaction of $1,311,658.44. Following the transaction, the chief executive officer now owns 79,480 shares in the company, valued at $13,116,584.40. This represents a 9.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now owns 143,966 shares in the company, valued at $23,482,294.26. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 268,642 shares of company stock worth $56,073,616. Corporate insiders own 38.55% of the company’s stock.

Atlassian Trading Up 1.6 %

NASDAQ:TEAM opened at $279.18 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $287.97. The firm has a 50-day moving average price of $226.93 and a 200 day moving average price of $185.86.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on TEAM shares. Mizuho boosted their target price on shares of Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. BMO Capital Markets increased their price target on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Morgan Stanley upped their price objective on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. KeyCorp lifted their target price on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Oppenheimer boosted their target price on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and an average target price of $254.25.

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.