Qsemble Capital Management LP Acquires New Shares in Atlassian Co. (NASDAQ:TEAM)

Qsemble Capital Management LP bought a new position in shares of Atlassian Co. (NASDAQ:TEAM) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 21,696 shares of the technology company’s stock, valued at approximately $3,446,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Asset Dedication LLC boosted its holdings in shares of Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. Trust Co. of Vermont boosted its stake in shares of Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Atlassian during the second quarter worth about $36,000. GAMMA Investing LLC increased its stake in shares of 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 period. Finally, Reston Wealth Management LLC bought a new position in Atlassian in the 3rd quarter valued at approximately $48,000. Institutional investors own 93.03% of the company’s stock.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $166.36, for a total value of $1,322,229.28. Following the completion of the transaction, the chief executive officer now directly owns 158,960 shares of the company’s stock, valued at approximately $26,444,585.60. This trade represents a 4.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 1,659 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $245.81, for a total transaction of $407,798.79. Following the sale, the president now directly owns 213,511 shares in the company, valued at $52,483,138.91. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,746 shares of company stock valued at $47,702,864 in the last 90 days. Insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

NASDAQ TEAM opened at $261.00 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The company has a fifty day moving average price of $198.38 and a 200-day moving average price of $177.54. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $269.40. The firm has a market cap of $67.97 billion, a price-to-earnings ratio of -171.71 and a beta of 0.71.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Canaccord Genuity Group raised their target price on Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Oppenheimer lifted their target price on Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group increased their price target on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Robert W. Baird lifted their price objective on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $244.21.

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.