Atlassian Co. (NASDAQ:TEAM) Shares Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. raised its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,182,373 shares of the technology company’s stock after buying an additional 22,936 shares during the quarter. Atlassian comprises about 0.7% of Jacobs Levy Equity Management Inc.’s investment portfolio, making the stock its 26th biggest position. Jacobs Levy Equity Management Inc. owned about 0.45% of Atlassian worth $187,773,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Tidal Investments LLC lifted its stake in shares of Atlassian by 10.0% during the 1st quarter. Tidal Investments LLC now owns 4,085 shares of the technology company’s stock worth $797,000 after purchasing an additional 373 shares during the period. Cetera Investment Advisers raised its position in shares of Atlassian by 167.1% in the 1st quarter. Cetera Investment Advisers now owns 43,975 shares of the technology company’s stock worth $8,580,000 after buying an additional 27,514 shares during the period. Cetera Advisors LLC raised its position in shares of Atlassian by 202.8% in the 1st quarter. Cetera Advisors LLC now owns 13,235 shares of the technology company’s stock worth $2,582,000 after buying an additional 8,864 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Atlassian by 8.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 26,612 shares of the technology company’s stock worth $5,117,000 after buying an additional 2,020 shares during the period. Finally, DNB Asset Management AS raised its position in shares of Atlassian by 5.9% in the 2nd quarter. DNB Asset Management AS now owns 24,278 shares of the technology company’s stock worth $4,294,000 after buying an additional 1,356 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TEAM. Piper Sandler increased their price target on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Raymond James raised their target price on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. KeyCorp upgraded Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 target price for the company in a research note on Friday, November 1st. UBS Group lifted their price target on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird lifted their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $244.21.

Insider Transactions at Atlassian

In other news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares in the company, valued at approximately $23,482,294.26. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Gene Liu sold 165 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the sale, the chief accounting officer now owns 56,423 shares of the company’s stock, valued at approximately $13,871,030.32. This represents a 0.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 257,694 shares of company stock valued at $51,359,580 over the last quarter. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Up 0.9 %

Shares of NASDAQ TEAM opened at $265.88 on Tuesday. The company’s 50 day simple moving average is $208.64 and its 200 day simple moving average is $180.38. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $269.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share 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 for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business posted ($0.07) earnings per share. Atlassian’s revenue was up 21.5% compared to the same quarter last year. On average, research analysts anticipate that Atlassian Co. will post -0.54 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.