Oberndorf William E Raises Stake in Atlassian Co. (NASDAQ:TEAM)

Oberndorf William E grew its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 10.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,134 shares of the technology company’s stock after purchasing an additional 5,232 shares during the period. Atlassian makes up 17.4% of Oberndorf William E’s portfolio, making the stock its 2nd biggest holding. Oberndorf William E’s holdings in Atlassian were worth $9,929,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in Atlassian by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Atlassian in the second quarter worth approximately $91,072,000. Vanguard Group Inc. raised its holdings in shares of Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after acquiring an additional 504,181 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Atlassian in the 1st quarter valued at approximately $55,307,000. Finally, Swedbank AB acquired a new position in Atlassian in the 1st quarter worth approximately $50,923,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TEAM. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Wells Fargo & Company reduced their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Oppenheimer reduced their price target on shares of Atlassian from $250.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Scotiabank lowered their price objective on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Finally, Mizuho cut their target price on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $217.69.

Atlassian Stock Up 2.0 %

TEAM opened at $163.10 on Friday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The firm has a market cap of $42.41 billion, a P/E ratio of -258.89 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The business has a 50 day moving average price of $162.35 and a 200 day moving average price of $175.85.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the business posted ($0.21) EPS. Atlassian’s revenue was up 20.5% compared to the same quarter last year. Research analysts forecast that Atlassian Co. will post -0.58 EPS for the current year.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $163.95, for a total value of $1,303,074.60. Following the transaction, the chief executive officer now directly owns 31,792 shares of the company’s stock, valued at approximately $5,212,298.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $163.95, for a total value of $1,303,074.60. Following the completion of the sale, the chief executive officer now directly owns 31,792 shares of the company’s stock, valued at approximately $5,212,298.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. The disclosure for this sale can be found here. Insiders sold a total of 231,451 shares of company stock worth $38,889,654 in the last 90 days. 40.48% of the stock is owned by company insiders.

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.