Pallas Capital Advisors LLC Acquires Shares of 1,485 Atlassian Co. (NASDAQ:TEAM)

Pallas Capital Advisors LLC acquired a new stake in Atlassian Co. (NASDAQ:TEAM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,485 shares of the technology company’s stock, valued at approximately $236,000.

Other institutional investors also recently bought and sold shares of the company. Asset Dedication LLC grew its holdings in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Hollencrest Capital Management boosted its stake in shares of Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after acquiring an additional 119 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after acquiring an additional 174 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Atlassian in the second quarter worth approximately $36,000. Finally, GAMMA Investing LLC boosted 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 worth $37,000 after acquiring an additional 96 shares during the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Mizuho lifted their price target on Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Canaccord Genuity Group lifted their price target on Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday. BMO Capital Markets lifted their price target on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research note on Friday. Finally, Raymond James lifted their price objective on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday. 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, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $243.16.

Atlassian Trading Up 19.0 %

TEAM opened at $224.35 on Friday. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The stock has a market capitalization of $58.34 billion, a price-to-earnings ratio of -193.41 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The business has a fifty day moving average price of $172.01 and a 200 day moving average price of $171.24.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm posted ($0.21) EPS. Atlassian’s revenue for the quarter was up 20.5% on a year-over-year basis. Sell-side analysts expect that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $193.70, for a total transaction of $1,539,527.60. Following the completion of the transaction, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at $83,134,490.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $193.70, for a total transaction of $1,539,527.60. Following the completion of the transaction, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at approximately $83,134,490.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,185 shares of company stock valued at $39,155,661 in the last three months. 38.55% of the stock is owned by corporate insiders.

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.