Geode Capital Management LLC Has $340.45 Million Position in Atlassian Co. (NASDAQ:TEAM)

Geode Capital Management LLC raised its position in shares of Atlassian Co. (NASDAQ:TEAM) by 2.8% in the 3rd quarter, Holdings Channel reports. The firm owned 2,149,914 shares of the technology company’s stock after acquiring an additional 57,911 shares during the period. Geode Capital Management LLC’s holdings in Atlassian were worth $340,453,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Asset Dedication LLC boosted its stake in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Rothschild Investment LLC acquired a new position in Atlassian during the 2nd quarter worth approximately $36,000. True Wealth Design LLC boosted its position in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares in the last quarter. Finally, Reston Wealth Management LLC acquired a new stake in shares of Atlassian during the 3rd quarter valued at $48,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on TEAM shares. Macquarie started coverage on Atlassian in a research note on Thursday. They set a “neutral” rating and a $290.00 price target on the stock. Raymond James raised their price target on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note 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. KeyCorp upped their price target on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Piper Sandler raised their price target on shares of Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $256.50.

Insider Activity

In other Atlassian news, CTO Rajeev Bashyam Rajan sold 5,172 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $190.00, for a total value of $982,680.00. Following the completion of the sale, the chief technology officer now owns 204,109 shares in the company, valued at approximately $38,780,710. This trade represents a 2.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $278.79, for a total value of $2,215,822.92. Following the completion of the transaction, the chief executive officer now owns 135,116 shares in the company, valued at $37,668,989.64. The trade was a 5.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,590 shares of company stock worth $58,284,749 over the last 90 days. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Performance

TEAM opened at $278.65 on Friday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $287.97. The company has a market cap of $72.57 billion, a price-to-earnings ratio of -183.32 and a beta of 0.80. The company’s fifty day moving average price is $226.93 and its two-hundred day moving average price is $185.86. 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 (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.07) EPS. On average, analysts expect that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Atlassian 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.