Two Sigma Advisers LP Buys 551,500 Shares of Atlassian Co. (NASDAQ:TEAM)

Two Sigma Advisers LP raised its stake in Atlassian Co. (NASDAQ:TEAM) by 122.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,003,600 shares of the technology company’s stock after buying an additional 551,500 shares during the period. Two Sigma Advisers LP owned 0.39% of Atlassian worth $159,382,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sora Investors LLC acquired a new stake in shares of Atlassian during the 3rd quarter valued at $10,784,000. Soros Fund Management LLC grew its holdings in shares of Atlassian by 39.9% during the third quarter. Soros Fund Management LLC now owns 130,160 shares of the technology company’s stock worth $20,671,000 after purchasing an additional 37,122 shares during the last quarter. State Street Corp increased its stake in shares of Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after buying an additional 8,957 shares during the period. Quantinno Capital Management LP boosted its position in Atlassian by 121.0% during the 3rd quarter. Quantinno Capital Management LP now owns 13,381 shares of the technology company’s stock worth $2,125,000 after buying an additional 7,327 shares during the period. Finally, Quarry LP grew its holdings in Atlassian by 127.9% during the 3rd quarter. Quarry LP now owns 850 shares of the technology company’s stock worth $135,000 after acquiring an additional 477 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TEAM. Mizuho raised their target price on Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird increased their target price 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. Jefferies Financial Group upped their price objective on shares of Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. KeyCorp lifted their target price on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Piper Sandler increased their price target on Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $249.74.

Atlassian Stock Performance

Shares of Atlassian stock opened at $276.72 on Friday. The business’s fifty day simple moving average is $215.54 and its 200 day simple moving average is $182.41. 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. The firm has a market capitalization of $72.07 billion, a P/E ratio of -182.05 and a beta of 0.80.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) EPS. As a group, analysts anticipate that Atlassian Co. will post -0.54 EPS for the current year.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $159.81, for a total transaction of $1,270,169.88. Following the sale, the chief executive officer now directly owns 500,724 shares in the company, valued at approximately $80,020,702.44. This represents a 1.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the transaction, the president now owns 143,966 shares of the company’s stock, valued at $23,482,294.26. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 260,694 shares of company stock worth $53,019,040. Insiders own 38.55% of the company’s stock.

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.