STF Management LP Has $348,000 Stock Position in Atlassian Co. (NASDAQ:TEAM)

STF Management LP lowered its stake in Atlassian Co. (NASDAQ:TEAM) by 13.2% during the third quarter, Holdings Channel.com reports. The fund owned 2,192 shares of the technology company’s stock after selling 333 shares during the period. STF Management LP’s holdings in Atlassian were worth $348,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Atlassian by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 583,579 shares of the technology company’s stock valued at $92,678,000 after acquiring an additional 12,422 shares during the last quarter. Brown Capital Management LLC increased its position in shares of Atlassian by 2.4% in the third quarter. Brown Capital Management LLC now owns 116,505 shares of the technology company’s stock valued at $18,502,000 after acquiring an additional 2,697 shares during the last quarter. Intech Investment Management LLC increased its position in shares of Atlassian by 90.4% in the third quarter. Intech Investment Management LLC now owns 134,663 shares of the technology company’s stock valued at $21,386,000 after acquiring an additional 63,919 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Atlassian in the third quarter valued at about $22,140,000. Finally, Commerce Bank grew its holdings in Atlassian by 1.8% during the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after purchasing an additional 90 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the subject of a number of research analyst reports. BMO Capital Markets lifted their price target on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. JMP Securities upgraded Atlassian to a “hold” rating in a report on Friday, August 2nd. Robert W. Baird lifted their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Morgan Stanley lifted their price target on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Jefferies Financial Group lifted their price target on Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $244.21.

Atlassian Stock Up 3.4 %

Shares of TEAM opened at $253.91 on Friday. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The company has a market cap of $66.13 billion, a P/E ratio of -167.05 and a beta of 0.71. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a 50 day simple moving average of $192.77 and a two-hundred day simple moving average of $175.94.

Atlassian (NASDAQ:TEAM) last announced 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. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned ($0.07) earnings per share. The company’s revenue was up 21.5% on a year-over-year basis. Research analysts forecast that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CAO Gene Liu sold 1,024 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $230,860.80. Following the completion of the transaction, the chief accounting officer now directly owns 59,168 shares in the company, valued at approximately $13,339,425.60. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $159.81, for a total transaction of $1,270,169.88. Following the transaction, the chief executive officer now owns 500,724 shares of the company’s stock, valued at $80,020,702.44. This trade represents a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 257,694 shares of company stock worth $49,012,774 over the last three months. Corporate insiders own 38.55% of the company’s stock.

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.