GAMMA Investing LLC Takes Position in Atlassian Co. (NASDAQ:TEAM)

GAMMA Investing LLC acquired a new stake in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 427 shares of the technology company’s stock, valued at approximately $107,000.

A number of other hedge funds have also made changes to their positions in the business. Baillie Gifford & Co. boosted its position in shares of Atlassian by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after purchasing an additional 1,511,318 shares during the period. Morgan Stanley boosted its position in shares of Atlassian by 156.8% in the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock valued at $361,449,000 after purchasing an additional 1,095,297 shares during the period. WCM Investment Management LLC boosted its position in shares of Atlassian by 2.7% in the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after purchasing an additional 249,017 shares during the period. American Century Companies Inc. boosted its position in shares of Atlassian by 58.7% in the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after purchasing an additional 159,102 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Atlassian by 45.8% in the 3rd quarter. Invesco Ltd. now owns 476,920 shares of the technology company’s stock valued at $96,104,000 after purchasing an additional 149,850 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insiders Place Their Bets

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $199.71, for a total transaction of $1,645,810.11. Following the completion of the transaction, the chief executive officer now owns 366,450 shares of the company’s stock, valued at $73,183,729.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $199.71, for a total transaction of $1,645,810.11. Following the sale, the chief executive officer now owns 366,450 shares in the company, valued at $73,183,729.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gene Liu sold 227 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the sale, the chief accounting officer now owns 47,066 shares in the company, valued at approximately $10,018,939.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 292,209 shares of company stock valued at $59,632,213. Corporate insiders own 40.48% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of research analyst reports. William Blair reissued an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. Oppenheimer decreased their price objective on Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday. TD Cowen decreased their price objective on Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday. Finally, StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $223.22.

Atlassian Stock Performance

NASDAQ TEAM opened at $179.45 on Monday. Atlassian Co. has a 1-year low of $128.02 and a 1-year high of $258.69. The company has a market capitalization of $46.55 billion, a P/E ratio of -284.84 and a beta of 0.63. The business has a 50 day moving average price of $199.98 and a 200 day moving average price of $206.59. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. Sell-side analysts expect that Atlassian Co. will post -0.42 EPS for the current fiscal year.

Atlassian Company 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.