Pacer Advisors Inc. Purchases 39,511 Shares of Atlassian Co. (NASDAQ:TEAM)

Pacer Advisors Inc. grew its position in Atlassian Co. (NASDAQ:TEAM) by 330.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 51,481 shares of the technology company’s stock after purchasing an additional 39,511 shares during the quarter. Pacer Advisors Inc.’s holdings in Atlassian were worth $12,529,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Atlassian by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 150,393 shares of the technology company’s stock worth $26,597,000 after purchasing an additional 5,878 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Atlassian during the 2nd quarter worth $677,000. AXA S.A. boosted its stake in Atlassian by 6.5% in the second quarter. AXA S.A. now owns 13,702 shares of the technology company’s stock valued at $2,424,000 after buying an additional 841 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Atlassian during the second quarter worth about $407,000. Finally, Quarry LP boosted its stake in shares of Atlassian by 143.8% in the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after purchasing an additional 220 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Activity at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $219.07, for a total value of $1,741,168.36. Following the transaction, the director now owns 309,972 shares of the company’s stock, valued at approximately $67,905,566.04. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Heather Mirjahangir Fernandez sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $338,175.00. Following the completion of the transaction, the director now owns 8,610 shares in the company, valued at $1,941,124.50. This represents a 14.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 264,240 shares of company stock valued at $66,529,872. 38.55% of the stock is owned by company insiders.

Atlassian Stock Up 2.5 %

Shares of NASDAQ TEAM opened at $274.71 on Wednesday. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $287.97. 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 has a market cap of $71.54 billion, a PE ratio of -180.73 and a beta of 0.83. The company’s fifty day simple moving average is $258.81 and its 200 day simple moving average is $206.31.

Atlassian (NASDAQ:TEAM) last issued its 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 return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company posted ($0.07) EPS. The firm’s revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the subject of a number of research analyst reports. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Oppenheimer upped their price target on shares of Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. KeyCorp raised their price objective on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Cantor Fitzgerald initiated coverage on Atlassian in a report on Friday, January 17th. They issued a “neutral” rating and a $264.00 target price for the company. Finally, UBS Group boosted their price target on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $273.19.

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.