Qsemble Capital Management LP Makes New Investment in Atlassian Co. (NASDAQ:TEAM)

Qsemble Capital Management LP purchased a new stake in Atlassian Co. (NASDAQ:TEAM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,696 shares of the technology company’s stock, valued at approximately $3,446,000.

Other large investors also recently made changes to their positions in the company. Whetstone Capital Advisors LLC acquired a new stake in shares of Atlassian in the 3rd quarter valued at approximately $4,996,000. Brown Brothers Harriman & Co. increased its stake in Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 82 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Atlassian in the third quarter worth $1,930,000. Daiwa Securities Group Inc. boosted its position in shares of Atlassian by 4.8% during the third quarter. Daiwa Securities Group Inc. now owns 23,399 shares of the technology company’s stock worth $3,716,000 after purchasing an additional 1,081 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in shares of Atlassian during the third quarter worth $57,149,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now directly owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 1,024 shares of Atlassian stock in a transaction on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $230,860.80. Following the completion of the transaction, the chief accounting officer now directly owns 59,168 shares of the company’s stock, valued at $13,339,425.60. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,746 shares of company stock worth $47,702,864 in the last 90 days. Company insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on TEAM shares. KeyCorp raised Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective on the stock in a research note on Friday, November 1st. Baird R W cut Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Truist Financial increased their target price on Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Oppenheimer lifted their price target on shares of Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, UBS Group upped their price target on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.21.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $261.00 on Tuesday. 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 Co. has a twelve month low of $135.29 and a twelve month high of $269.40. The business’s 50 day moving average price is $198.38 and its two-hundred day moving average price is $177.54. The company has a market cap of $67.97 billion, a PE ratio of -171.71 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.07) EPS. On average, analysts predict that Atlassian Co. will post -0.56 EPS for the current year.

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.