Insight Holdings Group LLC Takes Position in Atlassian Co. (NASDAQ:TEAM)

Insight Holdings Group LLC bought a new stake in Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 109,500 shares of the technology company’s stock, valued at approximately $26,046,000. Atlassian comprises approximately 0.6% of Insight Holdings Group LLC’s portfolio, making the stock its 14th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of TEAM. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Atlassian by 271.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after purchasing an additional 271 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Atlassian by 255.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after purchasing an additional 291 shares in the last quarter. Operose Advisors LLC acquired a new stake in shares of Atlassian in the third quarter valued at approximately $99,000. GAMMA Investing LLC acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $107,000. Finally, Valley National Advisers Inc. grew its holdings in Atlassian by 30.4% during the 4th quarter. Valley National Advisers Inc. now owns 579 shares of the technology company’s stock worth $137,000 after acquiring an additional 135 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $201.05, for a total value of $305,596.00. Following the completion of the sale, the president now directly owns 163,370 shares in the company, valued at approximately $32,845,538.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $201.05, for a total value of $305,596.00. Following the completion of the sale, the president now directly owns 163,370 shares in the company, valued at approximately $32,845,538.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Rajeev Bashyam Rajan sold 445 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $175.90, for a total transaction of $78,275.50. Following the completion of the sale, the chief technology officer now owns 130,525 shares of the company’s stock, valued at $22,959,347.50. The disclosure for this sale can be found here. Insiders sold a total of 300,608 shares of company stock worth $57,924,835 in the last three months. Insiders own 40.48% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on TEAM shares. William Blair reiterated an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. The Goldman Sachs Group upped their target price on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. TD Cowen lowered their price objective on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, April 26th. KeyCorp started coverage on shares of Atlassian in a research report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Finally, UBS Group lowered their price objective on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $223.22.

Atlassian Stock Down 3.1 %

Shares of Atlassian stock traded down $5.32 during trading hours on Friday, reaching $168.86. 1,928,281 shares of the company’s stock were exchanged, compared to its average volume of 1,716,420. The company has a 50 day moving average of $189.37 and a two-hundred day moving average of $205.74. Atlassian Co. has a fifty-two week low of $156.44 and a fifty-two week high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. The stock has a market cap of $43.95 billion, a P/E ratio of -268.03 and a beta of 0.67.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the business posted ($0.40) EPS. The company’s quarterly revenue was up 29.9% on a year-over-year basis. On average, sell-side analysts forecast that Atlassian Co. will post -0.23 EPS for the current fiscal year.

Atlassian Company 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.