Plato Investment Management Ltd Takes $1.24 Million Position in Atlassian Co. (NASDAQ:TEAM)

Plato Investment Management Ltd purchased a new stake in Atlassian Co. (NASDAQ:TEAM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,834 shares of the technology company’s stock, valued at approximately $1,243,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TEAM. Asset Dedication LLC increased its stake in shares of Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Trust Co. of Vermont increased its stake in shares of Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Atlassian in the 2nd quarter valued at about $36,000. GAMMA Investing LLC increased its stake in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the last quarter. Finally, Crewe Advisors LLC bought a new stake in Atlassian during the 1st quarter worth approximately $43,000. 93.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $156.92, for a total transaction of $1,247,200.16. Following the completion of the sale, the chief executive officer now owns 214,596 shares of the company’s stock, valued at $33,674,404.32. This trade represents a 3.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,248 shares of company stock valued at $45,553,294 in the last quarter. 38.55% of the stock is currently owned by insiders.

Atlassian Stock Performance

NASDAQ TEAM opened at $249.99 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The stock has a 50 day moving average of $184.61 and a 200-day moving average of $173.61.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) EPS. As a group, equities analysts expect that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on TEAM shares. Truist Financial increased their target price on Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. JMP Securities raised Atlassian to a “hold” rating in a research note on Friday, August 2nd. Robert W. Baird increased their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Morgan Stanley increased their target price on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Canaccord Genuity Group increased their target price on Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $244.21.

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.