Angeles Investment Advisors LLC Has $560,000 Position in Atlassian Co. (NASDAQ:TEAM)

Angeles Investment Advisors LLC grew its holdings in Atlassian Co. (NASDAQ:TEAM) by 19.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,164 shares of the technology company’s stock after purchasing an additional 526 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Atlassian were worth $560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Atlassian by 3.4% during 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 period. Diversified Trust Co raised its holdings in shares of Atlassian by 27.6% during the first quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock valued at $2,739,000 after purchasing an additional 3,035 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Atlassian by 7.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock worth $27,723,000 after purchasing an additional 10,434 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Atlassian by 2.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock valued at $34,213,000 after buying an additional 3,687 shares during the period. Finally, Alberta Investment Management Corp increased its position in Atlassian by 16.1% in the 4th quarter. Alberta Investment Management Corp now owns 96,211 shares of the technology company’s stock valued at $22,885,000 after buying an additional 13,328 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Atlassian Stock Performance

Shares of TEAM opened at $163.74 on Monday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The stock has a market cap of $42.58 billion, a P/E ratio of -259.90 and a beta of 0.73. The business’s 50 day moving average price is $163.71 and its 200-day moving average price is $176.72. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the company posted ($0.21) earnings per share. The company’s quarterly revenue was up 20.5% on a year-over-year basis. Equities research analysts anticipate that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on TEAM shares. Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target for the company in a research report on Thursday, July 11th. Piper Sandler upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $200.00 to $225.00 in a report on Tuesday, July 2nd. Morgan Stanley lowered their target price on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. JMP Securities upgraded Atlassian to a “hold” rating in a research note on Friday, August 2nd. Finally, Truist Financial decreased their price objective on Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $217.69.

Insider Activity

In other news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $160.00, for a total transaction of $121,600.00. Following the completion of the transaction, the president now directly owns 153,294 shares of the company’s stock, valued at $24,527,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $156.59, for a total value of $1,244,577.32. Following the completion of the sale, the chief executive officer now owns 47,688 shares of the company’s stock, valued at $7,467,463.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $160.00, for a total transaction of $121,600.00. Following the sale, the president now directly owns 153,294 shares of the company’s stock, valued at approximately $24,527,040. The disclosure for this sale can be found here. Insiders have sold a total of 240,159 shares of company stock valued at $40,166,893 in the last 90 days. 40.48% of the stock is currently owned by insiders.

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.