Brown Brothers Harriman & Co. Boosts Holdings in Atlassian Co. (NASDAQ:TEAM)

Brown Brothers Harriman & Co. increased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 23.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 436 shares of the technology company’s stock after purchasing an additional 82 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Atlassian were worth $69,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Asset Dedication LLC increased its stake in Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. Trust Co. of Vermont increased its position 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 last quarter. Rothschild Investment LLC purchased a new stake in Atlassian in the 2nd quarter valued at about $36,000. GAMMA Investing LLC lifted its position in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares during the last quarter. Finally, Reston Wealth Management LLC purchased a new position in Atlassian during the third quarter worth about $48,000. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares in the company, valued at approximately $23,482,294.26. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $163.81, for a total transaction of $1,301,961.88. Following the transaction, the director now owns 151,012 shares in the company, valued at approximately $24,737,275.72. This trade represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 257,694 shares of company stock worth $50,560,726 over the last 90 days. Corporate insiders own 38.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Raymond James boosted their target price on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and raised their price target for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. BMO Capital Markets increased their target price on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Finally, JMP Securities upgraded Atlassian to a “hold” rating in a report on Friday, August 2nd. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $244.21.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $262.46 on Friday. The stock’s 50-day simple moving average is $204.55 and its 200-day simple moving average is $179.29. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market capitalization of $68.35 billion, a PE ratio of -172.67 and a beta of 0.71. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $269.40.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data 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. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.07) EPS. As a group, equities research analysts forecast that Atlassian Co. will post -0.54 EPS for the current fiscal 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.