Pacer Advisors Inc. Has $12.53 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

Pacer Advisors Inc. lifted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 330.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,481 shares of the technology company’s stock after buying an additional 39,511 shares during the quarter. Pacer Advisors Inc.’s holdings in Atlassian were worth $12,529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares during the period. True Wealth Design LLC increased its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares during the last quarter. Reston Wealth Management LLC acquired a new position in Atlassian in the third quarter valued at about $48,000. Quarry LP boosted its holdings in Atlassian by 143.8% during the second quarter. Quarry LP now owns 373 shares of the technology company’s stock worth $66,000 after buying an additional 220 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in shares of Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after buying an additional 82 shares during the period. 94.45% of the stock is owned by institutional investors.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $278.79, for a total transaction of $2,215,822.92. Following the transaction, the chief executive officer now owns 135,116 shares in the company, valued at $37,668,989.64. This represents a 5.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Heather Mirjahangir Fernandez sold 1,500 shares of Atlassian stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $338,175.00. Following the completion of the sale, the director now owns 8,610 shares of the company’s stock, valued at approximately $1,941,124.50. The trade was a 14.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 264,240 shares of company stock worth $66,529,872. Insiders own 38.55% of the company’s stock.

Atlassian Price Performance

NASDAQ:TEAM opened at $274.71 on Wednesday. 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 $71.54 billion, a price-to-earnings ratio of -180.73 and a beta of 0.83. The stock’s 50 day moving average price is $258.81 and its two-hundred day moving average price is $206.31. 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 (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted ($0.07) EPS. The company’s quarterly revenue was up 21.5% on a year-over-year basis. On average, analysts anticipate that Atlassian Co. will post -0.55 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on TEAM. UBS Group increased their price target on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Morgan Stanley boosted their price target on shares of Atlassian from $259.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Oppenheimer raised their price objective on Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Jefferies Financial Group boosted their target price on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Raymond James lifted their price objective on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $273.19.

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.