Valley National Advisers Inc. Buys 317 Shares of Atlassian Co. (NASDAQ:TEAM)

Valley National Advisers Inc. increased its stake in Atlassian Co. (NASDAQ:TEAM) by 54.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 896 shares of the technology company’s stock after acquiring an additional 317 shares during the period. Valley National Advisers Inc.’s holdings in Atlassian were worth $174,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TEAM. Baillie Gifford & Co. lifted its stake in shares of Atlassian by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after acquiring an additional 1,511,318 shares during the last quarter. Morgan Stanley lifted its stake in shares of Atlassian by 156.8% in the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock valued at $361,449,000 after acquiring an additional 1,095,297 shares during the last quarter. Norges Bank bought a new stake in shares of Atlassian in the 4th quarter valued at about $247,740,000. Vanguard Group Inc. lifted its stake in shares of Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after acquiring an additional 504,181 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Atlassian by 3.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock valued at $2,435,095,000 after acquiring an additional 326,673 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Insider Activity

In related news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $182.62, for a total value of $1,451,463.76. Following the transaction, the chief executive officer now directly owns 484,828 shares of the company’s stock, valued at approximately $88,539,289.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Gene Liu sold 199 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total value of $36,665.75. Following the transaction, the chief accounting officer now directly owns 45,666 shares of the company’s stock, valued at approximately $8,413,960.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $182.62, for a total value of $1,451,463.76. Following the completion of the transaction, the chief executive officer now directly owns 484,828 shares in the company, valued at $88,539,289.36. The disclosure for this sale can be found here. Insiders have sold 287,802 shares of company stock valued at $51,411,378 in the last ninety days. 40.48% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. TD Cowen lowered their price target on Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, April 26th. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research report on Friday, June 7th. Citigroup reduced their target price on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Finally, Canaccord Genuity Group reduced their target price on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $226.94.

Atlassian Stock Down 0.0 %

TEAM traded down $0.02 during trading on Wednesday, hitting $182.26. 816,018 shares of the company’s stock traded hands, compared to its average volume of 1,749,364. The company’s 50 day simple moving average is $171.25 and its two-hundred day simple moving average is $200.67. The stock has a market capitalization of $47.44 billion, a price-to-earnings ratio of -289.30 and a beta of 0.74. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a 12-month low of $152.34 and a 12-month high of $258.69.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The company’s revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.40) EPS. Analysts predict that Atlassian Co. will post -0.21 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.