Interval Partners LP Buys New Stake in Atlassian Co. (NASDAQ:TEAM)

Interval Partners LP bought a new position in shares of Atlassian Co. (NASDAQ:TEAM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 10,877 shares of the technology company’s stock, valued at approximately $1,924,000.

A number of other hedge funds also recently bought and sold shares of TEAM. Price T Rowe Associates Inc. MD boosted its stake in Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after purchasing an additional 904,138 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Atlassian in the second quarter valued at approximately $91,072,000. Vanguard Group Inc. grew its stake in shares of Atlassian by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after acquiring an additional 504,181 shares during the last quarter. Quadrature Capital Ltd bought a new position in Atlassian during the first quarter worth $55,307,000. Finally, Swedbank AB acquired a new position in Atlassian during the 1st quarter valued at $50,923,000. 93.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TEAM has been the topic of several research reports. BMO Capital Markets dropped their price objective on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a report on Friday, August 2nd. Scotiabank reduced their price objective on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Barclays lowered their price objective on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Mizuho cut their target price on Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Finally, The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their price target for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $217.69.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the transaction, the president now owns 143,966 shares in the company, valued at $23,482,294.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $176.05, for a total value of $1,399,245.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the sale, the president now directly owns 143,966 shares of the company’s stock, valued at $23,482,294.26. The disclosure for this sale can be found here. Insiders sold a total of 232,211 shares of company stock worth $39,010,518 over the last 90 days. 40.48% of the stock is owned by insiders.

Atlassian Stock Down 0.7 %

Shares of NASDAQ TEAM opened at $161.98 on Tuesday. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The firm’s 50-day simple moving average is $161.63 and its 200 day simple moving average is $174.94. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a market cap of $42.16 billion, a price-to-earnings ratio of -257.11 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.13 billion. During the same period in the prior year, the firm earned ($0.21) earnings per share. Atlassian’s revenue was up 20.5% compared to the same quarter last year. On average, research analysts expect that Atlassian Co. will post -0.58 earnings per share 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.