Atlassian Co. (NASDAQ:TEAM) Shares Bought by Parnassus Investments LLC

Parnassus Investments LLC increased its stake in Atlassian Co. (NASDAQ:TEAM) by 322.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 321,240 shares of the technology company’s stock after acquiring an additional 245,286 shares during the quarter. Parnassus Investments LLC’s holdings in Atlassian were worth $51,016,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Ameritas Investment Partners Inc. boosted its position in Atlassian by 1.4% during the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after acquiring an additional 65 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Atlassian by 33.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,204 shares of the technology company’s stock worth $820,000 after acquiring an additional 1,062 shares in the last quarter. UniSuper Management Pty Ltd raised its position in shares of Atlassian by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the technology company’s stock worth $429,000 after acquiring an additional 1,100 shares in the last quarter. Natixis increased its position in shares of Atlassian by 15,995.8% during the first quarter. Natixis now owns 133,112 shares of the technology company’s stock worth $25,971,000 after purchasing an additional 132,285 shares in the last quarter. Finally, Boulder Hill Capital Management LP purchased a new stake in Atlassian in the 1st quarter valued at $5,073,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of analyst reports. Raymond James increased their target price on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and upped their price objective for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price target on Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Mizuho upped their price objective on Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, JMP Securities upgraded Atlassian to a “hold” rating in a report on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.21.

Insider Buying and Selling

In other news, CAO Gene Liu sold 1,024 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $230,860.80. Following the completion of the transaction, the chief accounting officer now owns 59,168 shares in the company, valued at approximately $13,339,425.60. This trade represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Monday, November 11th. The stock was sold at an average price of $244.84, for a total value of $1,945,988.32. Following the completion of the transaction, the director now owns 270,232 shares in the company, valued at $66,163,602.88. The trade was a 2.86 % decrease in their ownership of the stock. 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 three months. 38.55% of the stock is owned by insiders.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $238.69 on Tuesday. 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. The business has a 50 day moving average price of $187.95 and a two-hundred day moving average price of $174.61.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the business earned ($0.07) EPS. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. Sell-side analysts predict that Atlassian Co. will post -0.56 EPS for the current fiscal year.

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.