SkyView Investment Advisors LLC Boosts Holdings in Atlassian Co. (NASDAQ:TEAM)

SkyView Investment Advisors LLC increased its position in Atlassian Co. (NASDAQ:TEAM) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,128 shares of the technology company’s stock after purchasing an additional 122 shares during the quarter. SkyView Investment Advisors LLC’s holdings in Atlassian were worth $656,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TEAM. Dragoneer Investment Group LLC acquired a new position in shares of Atlassian in the 2nd quarter valued at approximately $469,803,000. Point72 Asset Management L.P. raised its holdings in Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after acquiring an additional 617,566 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Atlassian by 122.0% in the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after acquiring an additional 551,500 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Atlassian during the 3rd quarter worth $57,149,000. Finally, Parnassus Investments LLC increased its position in shares of Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after purchasing an additional 245,286 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TEAM. Mizuho increased their price target on shares of Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial lifted their target price on Atlassian from $200.00 to $250.00 and gave the stock a “hold” rating in a research report on Thursday. Canaccord Genuity Group upped their price target on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Raymond James lifted their price objective on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, BMO Capital Markets raised their price target on shares of Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $254.25.

Insider Activity

In other news, Director Heather Mirjahangir Fernandez sold 750 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $185.50, for a total transaction of $139,125.00. Following the completion of the sale, the director now directly owns 10,110 shares of the company’s stock, valued at $1,875,405. This trade represents a 6.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Gene Liu sold 165 shares of Atlassian stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total value of $40,563.60. Following the completion of the transaction, the chief accounting officer now owns 56,423 shares in the company, valued at $13,871,030.32. The trade was a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 268,642 shares of company stock worth $56,073,616 over the last 90 days. 38.55% of the stock is currently owned by company insiders.

Atlassian Price Performance

TEAM stock opened at $279.18 on Friday. The firm’s 50-day moving average is $226.93 and its two-hundred day moving average is $185.86. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97. 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 announced its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.07) earnings per share. Equities research analysts expect that Atlassian Co. will post -0.54 EPS for the current fiscal 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.