Peregrine Asset Advisers Inc. Invests $1.98 Million in Atlassian Co. (NASDAQ:TEAM)

Peregrine Asset Advisers Inc. purchased a new stake in shares of Atlassian Co. (NASDAQ:TEAM) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 8,309 shares of the technology company’s stock, valued at approximately $1,976,000.

Several other institutional investors have also recently made changes to their positions in TEAM. Vanguard Group Inc. grew its position in shares of Atlassian by 0.8% during the third quarter. Vanguard Group Inc. now owns 14,851,471 shares of the technology company’s stock worth $2,992,720,000 after purchasing an additional 112,482 shares in the last quarter. WCM Investment Management LLC lifted its holdings in shares of Atlassian by 2.7% in the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock worth $2,325,490,000 after buying an additional 249,017 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Atlassian by 20.7% during the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after acquiring an additional 1,511,318 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in Atlassian by 1.1% during the third quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock valued at $1,218,765,000 after acquiring an additional 63,903 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Atlassian by 156.8% in the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock valued at $361,449,000 after acquiring an additional 1,095,297 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

TEAM has been the subject of a number of research analyst reports. KeyCorp began coverage on Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating for the company. Robert W. Baird lowered their target price on Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Citigroup reduced their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. William Blair reiterated an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group boosted their target price on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $223.22.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $209.45, for a total value of $1,726,077.45. Following the completion of the sale, the chief executive officer now owns 296,676 shares in the company, valued at approximately $62,138,788.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Atlassian news, CAO Gene Liu sold 227 shares of Atlassian stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the transaction, the chief accounting officer now owns 47,066 shares in the company, valued at $10,018,939.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $209.45, for a total transaction of $1,726,077.45. Following the sale, the chief executive officer now directly owns 296,676 shares of the company’s stock, valued at $62,138,788.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 308,691 shares of company stock worth $61,623,156. Company insiders own 40.48% of the company’s stock.

Atlassian Trading Down 1.0 %

Shares of TEAM traded down $1.75 during trading hours on Monday, reaching $181.77. 1,468,305 shares of the company traded hands, compared to its average volume of 1,768,715. The firm has a market cap of $47.31 billion, a price-to-earnings ratio of -288.52 and a beta of 0.67. Atlassian Co. has a 12-month low of $128.02 and a 12-month high of $258.69. The stock’s fifty day moving average price is $196.77 and its 200 day moving average price is $205.99. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.40) EPS. Sell-side analysts forecast that Atlassian Co. will post -0.29 earnings per share for the current year.

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.