Ratan Capital Management LP Purchases 13,109 Shares of Atlassian Co. (NASDAQ:TEAM)

Ratan Capital Management LP lifted its position in Atlassian Co. (NASDAQ:TEAM) by 312.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,309 shares of the technology company’s stock after acquiring an additional 13,109 shares during the period. Atlassian accounts for about 2.7% of Ratan Capital Management LP’s investment portfolio, making the stock its 15th largest holding. Ratan Capital Management LP’s holdings in Atlassian were worth $4,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEAM. Arkadios Wealth Advisors purchased a new position in shares of Atlassian in the 4th quarter worth $202,000. American Century Companies Inc. lifted its position in Atlassian by 58.7% during the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after purchasing an additional 159,102 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Atlassian during the fourth quarter valued at $13,805,000. Royal Bank of Canada lifted its position in Atlassian by 17.3% during the third quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock valued at $76,862,000 after purchasing an additional 56,149 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its position in Atlassian by 16.1% during the fourth quarter. Alberta Investment Management Corp now owns 96,211 shares of the technology company’s stock valued at $22,885,000 after purchasing an additional 13,328 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Atlassian Trading Down 0.1 %

NASDAQ TEAM traded down $0.10 during trading hours on Friday, hitting $163.36. 1,006,452 shares of the company were exchanged, compared to its average volume of 1,842,447. The stock has a 50-day moving average price of $182.78 and a 200 day moving average price of $204.24. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a 52 week low of $154.02 and a 52 week high of $258.69. The stock has a market cap of $42.52 billion, a PE ratio of -259.30 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the business earned ($0.40) earnings per share. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. Analysts forecast that Atlassian Co. will post -0.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TEAM. Canaccord Genuity Group lowered their target price on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a report on Friday. TD Cowen decreased their price target on Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Finally, KeyCorp started coverage on Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $223.22.

Insider Buying and Selling at Atlassian

In related news, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $157.52, for a total value of $1,298,122.32. Following the completion of the sale, the chief executive officer now owns 127,461 shares in the company, valued at $20,077,656.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $201.05, for a total value of $305,596.00. Following the completion of the sale, the president now owns 163,370 shares in the company, valued at $32,845,538.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $157.52, for a total value of $1,298,122.32. Following the completion of the sale, the chief executive officer now owns 127,461 shares of the company’s stock, valued at approximately $20,077,656.72. The disclosure for this sale can be found here. Insiders sold 284,126 shares of company stock worth $53,540,046 over the last 90 days. Company insiders own 40.48% of the company’s stock.

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.