Wilmington Savings Fund Society FSB Buys 1,081 Shares of Atlassian Co. (NASDAQ:TEAM)

Wilmington Savings Fund Society FSB boosted its stake in Atlassian Co. (NASDAQ:TEAM) by 59.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,901 shares of the technology company’s stock after purchasing an additional 1,081 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Atlassian were worth $461,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dragoneer Investment Group LLC acquired a new stake in shares of Atlassian in the 2nd quarter valued at about $469,803,000. Point72 Asset Management L.P. boosted its holdings in Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after acquiring an additional 617,566 shares in the last quarter. Two Sigma Advisers LP grew its stake in Atlassian by 122.0% in the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after acquiring an additional 551,500 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of Atlassian during the third quarter valued at approximately $57,149,000. Finally, Parnassus Investments LLC raised its position in shares of Atlassian by 322.9% during the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after purchasing an additional 245,286 shares during the period. 94.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of recent research reports. Truist Financial boosted their price target on shares of Atlassian from $200.00 to $250.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Jefferies Financial Group upped their target price on shares of Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. KeyCorp lifted their price target on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. UBS Group increased their price objective on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Canaccord Genuity Group lifted their target price on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.50.

Atlassian Price Performance

NASDAQ TEAM opened at $278.09 on Tuesday. The company has a market cap of $72.42 billion, a PE ratio of -182.95 and a beta of 0.80. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm’s 50-day simple moving average is $229.09 and its two-hundred day simple moving average is $186.92. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company posted ($0.07) EPS. Atlassian’s revenue was up 21.5% compared to the same quarter last year. Research analysts predict that Atlassian Co. will post -0.54 earnings per share for the current year.

Insider Activity at Atlassian

In other news, CTO Rajeev Bashyam Rajan sold 5,172 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $190.00, for a total transaction of $982,680.00. Following the completion of the transaction, the chief technology officer now directly owns 204,109 shares in the company, valued at $38,780,710. The trade was a 2.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $163.56, for a total value of $1,299,974.88. Following the completion of the sale, the chief executive officer now owns 55,636 shares in the company, valued at $9,099,824.16. This trade represents a 12.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 268,642 shares of company stock worth $56,973,091. 38.55% of the stock is owned by company insiders.

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.