Metis Global Partners LLC Boosts Stock Position in Atlassian Co. (NASDAQ:TEAM)

Metis Global Partners LLC grew its holdings in Atlassian Co. (NASDAQ:TEAM) by 12.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,030 shares of the technology company’s stock after acquiring an additional 459 shares during the period. Metis Global Partners LLC’s holdings in Atlassian were worth $640,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TEAM. Financial Advocates Investment Management raised its position in Atlassian by 1.7% during the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after purchasing an additional 62 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Atlassian by 1.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock valued at $890,000 after buying an additional 65 shares during the period. Legacy Wealth Asset Management LLC lifted its position in Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after buying an additional 70 shares during the last quarter. SkyView Investment Advisors LLC increased its position in Atlassian by 2.1% during the first quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock valued at $775,000 after acquiring an additional 80 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake 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. Institutional investors own 93.03% of the company’s stock.

Atlassian Stock Down 4.0 %

Atlassian stock opened at $240.04 on Monday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The business has a fifty day moving average of $187.95 and a two-hundred day moving average of $174.60. The firm has a market cap of $62.51 billion, a P/E ratio of -157.92 and a beta of 0.71. 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 issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.16 billion. During the same quarter last year, the company earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, analysts forecast that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $156.92, for a total value of $1,247,200.16. Following the completion of the sale, the chief executive officer now owns 214,596 shares of the company’s stock, valued at approximately $33,674,404.32. This trade represents a 3.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were 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 in the company, valued at approximately $23,482,294.26. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 246,248 shares of company stock worth $45,553,294 in the last 90 days. 38.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TEAM shares. Mizuho lifted their price target on shares of Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Truist Financial boosted their target price on Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Robert W. Baird increased their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Baird R W cut Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Piper Sandler increased their target price on Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $244.21.

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.