Quantbot Technologies LP Acquires 46,945 Shares of Atlassian Co. (NASDAQ:TEAM)

Quantbot Technologies LP increased its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 277.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,890 shares of the technology company’s stock after purchasing an additional 46,945 shares during the quarter. Atlassian accounts for 0.4% of Quantbot Technologies LP’s holdings, making the stock its 26th biggest position. Quantbot Technologies LP’s holdings in Atlassian were worth $10,146,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Financial Advocates Investment Management lifted its holdings in shares of Atlassian by 1.7% in the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after purchasing an additional 62 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its position in Atlassian by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after acquiring an additional 70 shares during the last quarter. SkyView Investment Advisors LLC grew its stake in shares of Atlassian by 2.1% during the 1st quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock worth $775,000 after acquiring an additional 80 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after purchasing an additional 82 shares in the last quarter. Finally, Commerce Bank boosted its holdings in Atlassian by 1.8% during the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after purchasing an additional 90 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Canaccord Genuity Group increased their price target on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Mizuho boosted their price target on Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. BMO Capital Markets increased their price objective on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company boosted their target price on shares of Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $244.21.

Atlassian Price Performance

Atlassian stock opened at $261.00 on Tuesday. The company has a market capitalization of $67.97 billion, a price-to-earnings ratio of -171.71 and a beta of 0.71. The stock’s 50 day moving average is $198.38 and its 200-day moving average is $177.54. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $269.40.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.07) EPS. Equities research analysts expect that Atlassian Co. will post -0.56 EPS for the current year.

Insider Buying and Selling

In other news, CAO Gene Liu sold 165 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the sale, the chief accounting officer now directly owns 56,423 shares of the company’s stock, valued at approximately $13,871,030.32. This represents a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $244.81, for a total value of $1,945,749.88. Following the completion of the transaction, the director now owns 214,596 shares in the company, valued at $52,535,246.76. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,746 shares of company stock valued at $47,702,864. 38.55% of the stock is owned by company insiders.

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.