14,055 Shares in Atlassian Co. (NASDAQ:TEAM) Bought by Aigen Investment Management LP

Aigen Investment Management LP purchased a new position in Atlassian Co. (NASDAQ:TEAM) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,055 shares of the technology company’s stock, valued at approximately $2,232,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in Atlassian by 333.4% in the first quarter. Empowered Funds LLC now owns 6,666 shares of the technology company’s stock worth $1,301,000 after purchasing an additional 5,128 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Atlassian by 78.8% during the first quarter. Oppenheimer & Co. Inc. now owns 5,248 shares of the technology company’s stock valued at $1,024,000 after acquiring an additional 2,313 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Atlassian during the first quarter valued at $216,000. Russell Investments Group Ltd. increased its holdings in shares of Atlassian by 7.1% during the first quarter. Russell Investments Group Ltd. now owns 209,498 shares of the technology company’s stock valued at $40,767,000 after acquiring an additional 13,886 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Atlassian by 0.5% during the first quarter. US Bancorp DE now owns 51,272 shares of the technology company’s stock valued at $10,004,000 after acquiring an additional 258 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insiders Place Their Bets

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $237.04, for a total value of $1,883,993.92. Following the sale, the director now owns 278,180 shares in the company, valued at $65,939,787.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $237.04, for a total value of $1,883,993.92. Following the transaction, the director now directly owns 278,180 shares in the company, valued at $65,939,787.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 245,662 shares of company stock worth $44,653,051 over the last quarter. Company insiders own 38.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Truist Financial raised their price target on Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a report on Friday, November 1st. JMP Securities upgraded Atlassian to a “hold” rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price objective on Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Barclays reduced their price objective on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, Robert W. Baird lifted their price objective on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $243.16.

Atlassian Price Performance

Shares of TEAM traded down $0.94 during mid-day trading on Tuesday, hitting $244.91. 260,604 shares of the stock were exchanged, compared to its average volume of 1,846,226. The company has a market cap of $63.78 billion, a PE ratio of -161.74 and a beta of 0.71. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. The firm has a 50-day moving average of $179.57 and a two-hundred day moving average of $172.26. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share 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 company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm posted ($0.07) EPS. Atlassian’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities analysts predict that Atlassian Co. will post -0.56 earnings per share for the current year.

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.