Jacobs Levy Equity Management Inc. Has $187.77 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

Jacobs Levy Equity Management Inc. grew its position in Atlassian Co. (NASDAQ:TEAM) by 2.0% during the third quarter, HoldingsChannel reports. The firm owned 1,182,373 shares of the technology company’s stock after buying an additional 22,936 shares during the period. Atlassian comprises approximately 0.7% of Jacobs Levy Equity Management Inc.’s portfolio, making the stock its 26th largest holding. Jacobs Levy Equity Management Inc.’s holdings in Atlassian were worth $187,773,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Financial Advocates Investment Management increased its holdings in Atlassian by 1.7% during the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after buying an additional 62 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its position in shares of Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after acquiring an additional 70 shares during the period. Brown Brothers Harriman & Co. boosted its position in shares of Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after acquiring an additional 82 shares during the period. Commerce Bank boosted its position in shares of Atlassian by 1.8% in the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock valued at $789,000 after acquiring an additional 90 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the period. 93.03% of the stock is owned by institutional investors.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $265.88 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm’s fifty day moving average is $208.64 and its 200 day moving average is $180.38. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $269.40.

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, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business posted ($0.07) EPS. Atlassian’s revenue was up 21.5% compared to the same quarter last year. As a group, analysts predict that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. KeyCorp upgraded shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 target price for the company in a research report on Friday, November 1st. Truist Financial lifted their target price on shares of Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Jefferies Financial Group lifted their target price on shares of Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Mizuho lifted their target price on shares of Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Piper Sandler lifted their target price on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $244.21.

Insider Activity

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the transaction, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. This represents a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $163.82, for a total value of $1,302,041.36. Following the transaction, the director now owns 119,220 shares of the company’s stock, valued at $19,530,620.40. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 257,694 shares of company stock valued at $51,359,580 in the last quarter. 38.55% of the stock is currently owned by insiders.

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.