B. Metzler seel. Sohn & Co. Holding AG Buys New Position in Atlassian Co. (NASDAQ:TEAM)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Atlassian Co. (NASDAQ:TEAM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,186 shares of the technology company’s stock, valued at approximately $982,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TEAM. Asset Dedication LLC increased 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 valued at $27,000 after acquiring an additional 108 shares during the last quarter. Trust Co. of Vermont grew its holdings in shares of Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Atlassian during the 2nd quarter worth about $36,000. GAMMA Investing LLC grew its holdings in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the period. Finally, Reston Wealth Management LLC purchased a new stake in shares of Atlassian during the 3rd quarter worth about $48,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the subject of a number of research reports. Mizuho boosted their target price on Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Raymond James boosted their target price on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Piper Sandler upped their price target on Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group upped their price target on Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $260.58 on Friday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $262.00. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The business’s fifty day moving average price is $196.47 and its two-hundred day moving average price is $177.03. The firm has a market capitalization of $67.86 billion, a PE ratio of -171.43 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last issued its earnings results 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 return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, research analysts expect that Atlassian Co. will post -0.56 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Gene Liu sold 1,024 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $230,860.80. Following the transaction, the chief accounting officer now directly owns 59,168 shares of the company’s stock, valued at approximately $13,339,425.60. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $164.81, for a total value of $1,309,909.88. Following the transaction, the chief executive officer now directly owns 182,804 shares in the company, valued at $30,127,927.24. This trade represents a 4.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 257,694 shares of company stock valued at $49,012,774 over the last three months. Company insiders own 38.55% of the company’s stock.

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.