Two Sigma Advisers LP Boosts Holdings in Atlassian Co. (NASDAQ:TEAM)

Two Sigma Advisers LP grew its position in shares of Atlassian Co. (NASDAQ:TEAM) by 122.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,003,600 shares of the technology company’s stock after purchasing an additional 551,500 shares during the period. Two Sigma Advisers LP’s holdings in Atlassian were worth $159,382,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Asset Dedication LLC increased its stake in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Atlassian in the second quarter valued at approximately $36,000. GAMMA Investing LLC lifted its position in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the last quarter. Finally, Reston Wealth Management LLC purchased a new stake in shares of Atlassian during the 3rd quarter valued at $48,000. Institutional investors own 93.03% of the company’s stock.

Insider Transactions at Atlassian

In related news, Director Heather Mirjahangir Fernandez sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $275.00, for a total value of $825,000.00. Following the transaction, the director now directly owns 5,610 shares of the company’s stock, valued at approximately $1,542,750. This represents a 34.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $265.96, for a total value of $2,113,850.08. Following the completion of the sale, the director now directly owns 158,960 shares of the company’s stock, valued at approximately $42,277,001.60. The trade was a 4.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 260,694 shares of company stock valued at $53,019,040. Insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

Shares of Atlassian stock opened at $276.72 on Friday. The business has a fifty day simple moving average of $215.54 and a two-hundred day simple moving average of $182.41. The firm has a market capitalization of $72.07 billion, a P/E ratio of -182.05 and a beta of 0.80. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $287.97.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share 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 business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm earned ($0.07) earnings per share. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, equities analysts forecast that Atlassian Co. will post -0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on TEAM. UBS Group increased their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Scotiabank upped their target price on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Oppenheimer boosted their price objective on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Canaccord Genuity Group lifted their target price on shares of Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Robert W. Baird upped their price target on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research report 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $249.74.

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.