Parametrica Management Ltd Invests $232,000 in Atlassian Co. (NASDAQ:TEAM)

Parametrica Management Ltd purchased a new position in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 953 shares of the technology company’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds also recently bought and sold shares of TEAM. Thrivent Financial for Lutherans boosted its holdings in Atlassian by 168.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 10,270 shares of the technology company’s stock worth $1,631,000 after buying an additional 6,440 shares during the period. Quest Partners LLC increased its position in Atlassian by 18.3% in the third quarter. Quest Partners LLC now owns 2,135 shares of the technology company’s stock worth $339,000 after purchasing an additional 330 shares during the last quarter. Commerce Bank grew its stake in shares of Atlassian by 1.8% in the 3rd quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after buying an additional 90 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Atlassian by 2.2% in the 3rd 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. Finally, Cerity Partners LLC raised its position in Atlassian by 169.0% during the third quarter. Cerity Partners LLC now owns 18,017 shares of the technology company’s stock valued at $2,861,000 after purchasing an additional 11,320 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TEAM. Scotiabank upped their target price on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. UBS Group increased their price objective on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Citigroup lifted their target price on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th. KeyCorp raised their price objective on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Barclays upped their price target on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average price target of $316.77.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $236.22 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $61.89 billion, a PE ratio of -176.28 and a beta of 0.91. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The firm has a fifty day moving average of $271.00 and a 200 day moving average of $237.85.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, research analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88. Following the transaction, the chief executive officer now directly owns 270,232 shares of the company’s stock, valued at approximately $87,098,475.92. This trade represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Gene Liu sold 568 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $312.08, for a total transaction of $177,261.44. Following the sale, the chief accounting officer now directly owns 52,142 shares of the company’s stock, valued at approximately $16,272,475.36. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 263,033 shares of company stock worth $70,849,302 over the last quarter. 38.55% of the stock is currently owned by corporate insiders.

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.