Edgestream Partners L.P. Has $2.84 Million Stake in Atlassian Co. (NASDAQ:TEAM)

Edgestream Partners L.P. raised its position in Atlassian Co. (NASDAQ:TEAM) by 750.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,530 shares of the technology company’s stock after buying an additional 12,821 shares during the quarter. Edgestream Partners L.P.’s holdings in Atlassian were worth $2,835,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Hollencrest Capital Management increased its holdings in shares of Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after buying an additional 119 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Atlassian in the first quarter valued at approximately $40,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Atlassian by 271.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after buying an additional 271 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Atlassian by 255.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after buying an additional 291 shares during the period. Finally, GAMMA Investing LLC bought a new stake in Atlassian during the 4th quarter worth approximately $107,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Insider Activity

In related news, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Gene Liu sold 199 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total value of $36,665.75. Following the sale, the chief accounting officer now owns 45,666 shares in the company, valued at $8,413,960.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $199.71, for a total value of $1,645,810.11. Following the transaction, the chief executive officer now owns 366,450 shares of the company’s stock, valued at $73,183,729.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 276,750 shares of company stock worth $48,223,231. 40.48% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TEAM has been the topic of a number of recent research reports. Mizuho cut their price target on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Canaccord Genuity Group reduced their price target on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Wells Fargo & Company lowered their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. Finally, Citigroup dropped their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and a consensus target price of $228.81.

Atlassian Stock Down 1.1 %

Atlassian stock traded down $1.93 during midday trading on Tuesday, reaching $173.62. The stock had a trading volume of 270,267 shares, compared to its average volume of 1,698,967. The company has a fifty day moving average price of $170.83 and a two-hundred day moving average price of $195.27. The company has a market capitalization of $45.19 billion, a P/E ratio of -278.70 and a beta of 0.74. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a 12 month low of $152.34 and a 12 month high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the company posted ($0.40) earnings per share. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. As a group, equities analysts expect that Atlassian Co. will post -0.22 EPS for the current fiscal 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.