2,614 Shares in Atlassian Co. (NASDAQ:TEAM) Purchased by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. bought a new position in shares of Atlassian Co. (NASDAQ:TEAM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,614 shares of the technology company’s stock, valued at approximately $462,000.

Several other institutional investors have also recently made changes to their positions in the business. Dragoneer Investment Group LLC purchased a new position in Atlassian during the 2nd quarter valued at approximately $469,803,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 during the period. Manning & Napier Advisors LLC purchased a new position in shares of Atlassian in the 2nd quarter worth approximately $91,072,000. Vanguard Group Inc. boosted its holdings in shares of Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after purchasing an additional 504,181 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in shares of Atlassian in the 1st quarter worth approximately $55,307,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the subject of a number of research analyst reports. Robert W. Baird lowered Atlassian from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $230.00 to $175.00 in a research note on Friday, August 2nd. Scotiabank decreased their price target on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. BMO Capital Markets decreased their price target on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research note on Friday, August 2nd. Truist Financial decreased their price target on Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $230.00 target price on shares of Atlassian in a research report on Monday, September 23rd. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $216.65.

Insider Buying and Selling

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the sale, the chief executive officer now owns 294,076 shares in the company, valued at approximately $41,329,441.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the sale, the chief executive officer now owns 294,076 shares in the company, valued at approximately $41,329,441.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of 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 have sold a total of 224,263 shares of company stock worth $37,255,440 in the last ninety days. 40.48% of the stock is owned by insiders.

Atlassian Stock Up 1.6 %

Shares of TEAM stock opened at $161.42 on Wednesday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The stock’s fifty day moving average price is $159.70 and its 200 day moving average price is $172.99. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $41.97 billion, a price-to-earnings ratio of -256.22 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned ($0.21) EPS. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, research analysts expect that Atlassian Co. will post -0.58 earnings per share 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.