Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Commerce Bank

Commerce Bank grew its position in shares of Atlassian Co. (NASDAQ:TEAM) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,966 shares of the technology company’s stock after purchasing an additional 90 shares during the period. Commerce Bank’s holdings in Atlassian were worth $789,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of TEAM. Parnassus Investments LLC lifted its stake in Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after acquiring an additional 245,286 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Atlassian during the third quarter worth about $982,000. Banque Cantonale Vaudoise boosted its stake in shares of Atlassian by 32.1% in the third quarter. Banque Cantonale Vaudoise now owns 18,877 shares of the technology company’s stock valued at $2,998,000 after purchasing an additional 4,583 shares during the period. LMR Partners LLP acquired a new position in shares of Atlassian in the third quarter valued at approximately $8,814,000. Finally, Quest Partners LLC increased its stake in Atlassian by 18.3% during the 3rd quarter. Quest Partners LLC now owns 2,135 shares of the technology company’s stock worth $339,000 after buying an additional 330 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $159.81, for a total value of $1,270,169.88. Following the transaction, the chief executive officer now directly owns 500,724 shares in the company, valued at $80,020,702.44. This trade represents a 1.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Gene Liu sold 165 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total transaction of $40,563.60. Following the completion of the transaction, the chief accounting officer now directly owns 56,423 shares in the company, valued at $13,871,030.32. This represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 249,746 shares of company stock worth $47,702,864. 38.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on TEAM shares. Oppenheimer boosted their price target on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Barclays reduced their price target on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Wells Fargo & Company lifted their price objective on Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and upped their target price for the stock from $200.00 to $230.00 in a research note on Friday, August 2nd. Finally, Mizuho boosted their price target on shares of Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $244.21.

Atlassian Stock Performance

Shares of Atlassian stock opened at $261.00 on Tuesday. The stock has a market capitalization of $67.97 billion, a price-to-earnings ratio of -171.71 and a beta of 0.71. The firm’s fifty day simple moving average is $196.47 and its 200-day simple moving average is $176.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $269.40.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business posted ($0.07) earnings per share. Atlassian’s quarterly revenue was up 21.5% on a year-over-year basis. As a group, equities analysts forecast that Atlassian Co. will post -0.56 earnings per share for the current 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.