AIA Group Ltd Takes Position in Atlassian Co. (NASDAQ:TEAM)

AIA Group Ltd acquired a new position in Atlassian Co. (NASDAQ:TEAM) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 10,060 shares of the technology company’s stock, valued at approximately $1,598,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TEAM. Vanguard Group Inc. lifted its position in shares of Atlassian by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after purchasing an additional 221,650 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after buying an additional 904,138 shares in the last quarter. Dragoneer Investment Group LLC bought a new position in Atlassian in the second quarter worth approximately $469,803,000. Capital International Investors boosted its position in Atlassian by 6.3% during the 1st quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock valued at $475,399,000 after acquiring an additional 144,117 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in Atlassian by 6.7% during the 1st quarter. Clearbridge Investments LLC now owns 2,070,928 shares of the technology company’s stock valued at $404,059,000 after acquiring an additional 130,253 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors.

Insider Activity at Atlassian

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

Atlassian Stock Performance

NASDAQ TEAM opened at $237.80 on Friday. The firm has a market capitalization of $61.93 billion, a P/E ratio of -156.45 and a beta of 0.71. The stock has a 50-day simple moving average of $179.57 and a two-hundred day simple moving average of $172.63. 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 Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM) last announced 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 during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business earned ($0.07) earnings per share. Atlassian’s quarterly revenue was up 21.5% on a year-over-year basis. On average, equities analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group upped their price objective on Atlassian from $240.00 to $280.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. JMP Securities upgraded shares of Atlassian to a “hold” rating in a report on Friday, August 2nd. Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Canaccord Genuity Group lifted their price target on shares of Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, KeyCorp raised Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target on the stock in a research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.16.

Atlassian 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.