Custom Index Systems LLC Acquires 207 Shares of Atlassian Co. (NASDAQ:TEAM)

Custom Index Systems LLC raised its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 8.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,529 shares of the technology company’s stock after acquiring an additional 207 shares during the quarter. Custom Index Systems LLC’s holdings in Atlassian were worth $402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Dragoneer Investment Group LLC purchased a new stake in Atlassian during the 2nd quarter worth about $469,803,000. Price T Rowe Associates Inc. MD increased its position in shares of Atlassian by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after buying an additional 904,138 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Atlassian in the second quarter worth about $91,072,000. Quadrature Capital Ltd bought a new position in shares of Atlassian in the first quarter valued at approximately $55,307,000. Finally, Swedbank AB purchased a new position in Atlassian during the first quarter valued at approximately $50,923,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $144.73, for a total transaction of $1,150,314.04. Following the transaction, the chief executive officer now owns 317,920 shares in the company, valued at approximately $46,012,561.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $144.73, for a total value of $1,150,314.04. Following the completion of the sale, the chief executive officer now owns 317,920 shares of the company’s stock, valued at approximately $46,012,561.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the transaction, the chief technology officer now owns 128,957 shares in the company, valued at approximately $18,838,038.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 222,237 shares of company stock valued at $37,175,417 over the last ninety days. Insiders own 38.55% of the company’s stock.

Atlassian Stock Down 0.3 %

Shares of Atlassian stock opened at $188.73 on Monday. The company has a 50-day simple moving average of $169.41 and a two-hundred day simple moving average of $171.50. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95.

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

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of research analyst reports. UBS Group upped their target price on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a report on Thursday, July 11th. Scotiabank dropped their target price on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their price target for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Finally, Raymond James upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Tuesday, October 1st. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $212.47.

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.