Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Maverick Capital Ltd.

Maverick Capital Ltd. increased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 251.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,823 shares of the technology company’s stock after buying an additional 4,166 shares during the period. Maverick Capital Ltd.’s holdings in Atlassian were worth $1,030,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TEAM. Asset Dedication LLC boosted its stake in shares of Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Hollencrest Capital Management boosted its position in Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after purchasing an additional 119 shares in the last quarter. Trust Co. of Vermont grew its holdings in Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Atlassian in the second quarter valued at approximately $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Atlassian during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TEAM. Truist Financial dropped their price target on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley cut their target price on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target for the company in a research report on Thursday, July 11th. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Finally, JMP Securities raised Atlassian to a “hold” rating in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.69.

Atlassian Stock Performance

Atlassian stock opened at $161.22 on Friday. The firm has a 50 day simple moving average of $160.31 and a 200-day simple moving average of $174.07. The stock has a market cap of $41.92 billion, a price-to-earnings ratio of -255.90 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. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69.

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

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $186.48, for a total transaction of $1,482,143.04. Following the completion of the sale, the chief executive officer now directly owns 476,880 shares in the company, valued at $88,928,582.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $186.48, for a total transaction of $1,482,143.04. Following the completion of the transaction, the chief executive officer now owns 476,880 shares of the company’s stock, valued at approximately $88,928,582.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $175.00, for a total value of $133,000.00. Following the completion of the sale, the president now directly owns 152,534 shares in the company, valued at approximately $26,693,450. The disclosure for this sale can be found here. Insiders have sold 232,211 shares of company stock valued at $38,833,675 over the last 90 days. 40.48% of the stock is owned by insiders.

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.