20,315 Shares in Atlassian Co. (NASDAQ:TEAM) Acquired by Dilation Capital Management LP

Dilation Capital Management LP acquired a new stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 20,315 shares of the technology company's stock, valued at approximately $4,944,000. Atlassian makes up about 4.6% of Dilation Capital Management LP's holdings, making the stock its 10th biggest position.

Other hedge funds have also recently modified their holdings of the company. Corebridge Financial Inc. grew its holdings in Atlassian by 0.3% during the 4th quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after buying an additional 35 shares in the last quarter. GeoWealth Management LLC grew its stake in shares of Atlassian by 26.8% in the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after buying an additional 38 shares in the last quarter. Assetmark Inc. grew its stake in shares of Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after buying an additional 41 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after buying an additional 47 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock valued at $71,000 after buying an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 779 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $320.01, for a total transaction of $249,287.79. Following the completion of the transaction, the chief accounting officer now directly owns 52,710 shares of the company's stock, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $312.58, for a total transaction of $475,121.60. Following the completion of the sale, the president now directly owns 201,657 shares in the company, valued at $63,033,945.06. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 253,565 shares of company stock worth $65,091,576 over the last 90 days. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Down 4.9 %

Shares of NASDAQ TEAM opened at $192.84 on Tuesday. The stock's fifty day simple moving average is $237.16 and its two-hundred day simple moving average is $243.47. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $50.52 billion, a PE ratio of -143.91 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on TEAM. Robert W. Baird raised Atlassian from a "neutral" rating to an "outperform" rating and reduced their price objective for the stock from $320.00 to $255.00 in a research note on Monday, April 14th. UBS Group decreased their price target on Atlassian from $330.00 to $230.00 and set a "neutral" rating on the stock in a report on Tuesday, April 1st. Truist Financial dropped their price objective on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Oppenheimer boosted their price objective on shares of Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Finally, Scotiabank lifted their price target on shares of Atlassian from $250.00 to $330.00 and gave the stock a "sector perform" rating in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $297.73.

About Atlassian

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.

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