Vinva Investment Management Ltd Has $5.54 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

Vinva Investment Management Ltd boosted its stake in Atlassian Co. (NASDAQ:TEAM) by 234.6% in the fourth quarter, Holdings Channel reports. The firm owned 22,409 shares of the technology company’s stock after purchasing an additional 15,711 shares during the quarter. Vinva Investment Management Ltd’s holdings in Atlassian were worth $5,537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TEAM. Point72 Asset Management L.P. lifted its position in Atlassian by 760.5% during the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after purchasing an additional 617,566 shares during the period. Two Sigma Advisers LP lifted its position in Atlassian by 122.0% during the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after purchasing an additional 551,500 shares during the period. Westfield Capital Management Co. LP bought a new stake in Atlassian during the third quarter worth about $57,149,000. Los Angeles Capital Management LLC lifted its position in Atlassian by 12,047.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock worth $55,521,000 after purchasing an additional 226,246 shares during the period. Finally, Fisher Funds Management LTD bought a new position in shares of Atlassian in the fourth quarter worth about $47,469,000. Institutional investors own 94.45% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $216.90, for a total value of $1,723,921.20. Following the transaction, the chief executive officer now directly owns 71,532 shares in the company, valued at $15,515,290.80. This trade represents a 10.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Joseph Leo Binz sold 2,587 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.09, for a total value of $807,376.83. Following the completion of the transaction, the chief financial officer now owns 169,342 shares in the company, valued at approximately $52,849,944.78. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 264,553 shares of company stock worth $71,627,261. Corporate insiders own 38.55% of the company’s stock.

Atlassian Price Performance

Atlassian stock opened at $229.86 on Thursday. The stock has a market capitalization of $60.22 billion, a price-to-earnings ratio of -171.54 and a beta of 0.91. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The stock’s 50 day moving average price is $271.91 and its two-hundred day moving average price is $235.42. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. On average, equities analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the subject of a number of research reports. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $255.00 to $292.00 in a report on Friday, January 10th. KeyCorp increased their target price on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Oppenheimer increased their target price on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Stephens initiated coverage on shares of Atlassian in a report on Wednesday. They issued an “equal weight” rating and a $255.00 target price for the company. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $316.77.

About Atlassian

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.