Perpetual Ltd Buys 1,920 Shares of Atlassian Co. (NASDAQ:TEAM)

Perpetual Ltd increased its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 34.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,474 shares of the technology company’s stock after acquiring an additional 1,920 shares during the period. Perpetual Ltd’s holdings in Atlassian were worth $1,819,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares in the last quarter. True Wealth Design LLC increased its holdings in Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the last quarter. Reston Wealth Management LLC bought a new stake in Atlassian during the third quarter worth $48,000. Quarry LP lifted its stake in Atlassian by 143.8% in the second quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after acquiring an additional 220 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in shares of Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after acquiring an additional 82 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Gene Liu sold 1,024 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $230,860.80. Following the completion of the transaction, the chief accounting officer now directly owns 59,168 shares in the company, valued at $13,339,425.60. This represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $253.01, for a total transaction of $2,010,923.48. Following the completion of the transaction, the director now directly owns 389,452 shares of the company’s stock, valued at approximately $98,535,250.52. The trade was a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 264,240 shares of company stock worth $64,788,465 over the last three months. Insiders own 38.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TEAM. KeyCorp raised their target price on shares of Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Citigroup lifted their target price on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Mizuho increased their price target on Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Oppenheimer lifted their price objective on shares of Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Finally, Jefferies Financial Group increased their price objective on shares of Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $272.00.

Atlassian Trading Up 1.5 %

TEAM stock opened at $256.19 on Wednesday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97. The business has a 50-day simple moving average of $256.49 and a 200 day simple moving average of $202.72. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) EPS. Equities research analysts predict that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Atlassian Profile

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.