Quantbot Technologies LP Acquires 46,945 Shares of Atlassian Co. (NASDAQ:TEAM)

Quantbot Technologies LP raised its holdings in Atlassian Co. (NASDAQ:TEAM) by 277.0% during the third quarter, HoldingsChannel reports. The firm owned 63,890 shares of the technology company’s stock after acquiring an additional 46,945 shares during the quarter. Atlassian accounts for 0.4% of Quantbot Technologies LP’s holdings, making the stock its 26th largest position. Quantbot Technologies LP’s holdings in Atlassian were worth $10,146,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Asset Dedication LLC lifted its stake in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Trust Co. of Vermont lifted its stake in shares of Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Atlassian during the 2nd quarter valued at $36,000. GAMMA Investing LLC grew its position in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the last quarter. Finally, Reston Wealth Management LLC bought a new position in Atlassian in the third quarter valued at about $48,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Insider Activity

In other news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $163.81, for a total transaction of $1,301,961.88. Following the completion of the sale, the director now directly owns 151,012 shares of the company’s stock, valued at $24,737,275.72. The trade was a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was 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 $23,482,294.26. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,746 shares of company stock worth $47,702,864 over the last quarter. 38.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TEAM shares. Truist Financial lifted their price target on Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Piper Sandler boosted their target price on shares of Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. JMP Securities raised shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Oppenheimer lifted their price target on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Scotiabank increased their price objective on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $244.21.

Atlassian Stock Performance

Shares of TEAM stock opened at $261.00 on Tuesday. The firm has a 50 day moving average of $198.38 and a 200-day moving average of $177.54. The company has a market cap of $67.97 billion, a price-to-earnings ratio of -171.71 and a beta of 0.71. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $269.40.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping 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 analysts’ expectations of $1.16 billion. During the same period last year, the company posted ($0.07) earnings per share. The business’s quarterly revenue was up 21.5% on a year-over-year basis. On average, equities analysts forecast that Atlassian Co. will post -0.56 earnings per share for the current year.

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.