Atlassian Co. (NASDAQ:TEAM) Stock Holdings Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 2.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 583,579 shares of the technology company’s stock after acquiring an additional 12,422 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.22% of Atlassian worth $92,678,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TEAM. Financial Advocates Investment Management raised its stake in Atlassian by 1.7% during the 2nd 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 during the period. Legacy Wealth Asset Management LLC lifted its stake in Atlassian by 2.1% in 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 in the last quarter. Commerce Bank grew its stake in Atlassian by 1.8% during the 3rd quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock valued at $789,000 after acquiring an additional 90 shares in the last quarter. GAMMA Investing LLC grew its stake in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares in the last quarter. Finally, Founders Financial Securities LLC increased its holdings in shares of Atlassian by 4.9% in the 2nd quarter. Founders Financial Securities LLC now owns 2,201 shares of the technology company’s stock valued at $389,000 after purchasing an additional 102 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TEAM. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Morgan Stanley boosted their price target on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Jefferies Financial Group increased their price objective on Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. BMO Capital Markets boosted their target price on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company raised their price target on Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $244.21.

Insider Transactions at Atlassian

In other news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the sale, the president now owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Gene Liu sold 1,024 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $230,860.80. Following the completion of the transaction, the chief accounting officer now owns 59,168 shares of the company’s stock, valued at $13,339,425.60. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 257,694 shares of company stock worth $49,802,725. 38.55% of the stock is currently owned by company insiders.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $262.23 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average price of $198.38 and a 200 day moving average price of $177.54. The company has a market cap of $68.29 billion, a price-to-earnings ratio of -172.52 and a beta of 0.71. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $269.40.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) earnings per share. Research analysts predict that Atlassian Co. will post -0.56 earnings per share for the current 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.