Counterpoint Mutual Funds LLC Makes New $708,000 Investment in Atlassian Co. (NASDAQ:TEAM)

Counterpoint Mutual Funds LLC bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,908 shares of the technology company's stock, valued at approximately $708,000.

Several other institutional investors have also bought and sold shares of the stock. Principal Financial Group Inc. boosted its holdings in Atlassian by 61.4% during the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company's stock worth $1,710,000 after acquiring an additional 4,099 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Atlassian by 140.4% during the third quarter. GSA Capital Partners LLP now owns 4,827 shares of the technology company's stock worth $767,000 after purchasing an additional 2,819 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in Atlassian by 24.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 1,771 shares of the technology company's stock worth $281,000 after purchasing an additional 347 shares in the last quarter. Metis Global Partners LLC increased its stake in Atlassian by 12.9% in the 3rd quarter. Metis Global Partners LLC now owns 4,030 shares of the technology company's stock valued at $640,000 after buying an additional 459 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Atlassian by 4.4% during the 3rd quarter. CIBC Asset Management Inc now owns 31,942 shares of the technology company's stock worth $5,073,000 after buying an additional 1,358 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JMP Securities reaffirmed a "market perform" rating on shares of Atlassian in a research report on Friday, January 31st. StockNews.com raised Atlassian from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Truist Financial reissued a "buy" rating and issued a $350.00 price target (up from $300.00) on shares of Atlassian in a report on Friday, January 31st. Cantor Fitzgerald raised their price objective on shares of Atlassian from $264.00 to $304.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Finally, KeyCorp lifted their price objective on shares of Atlassian from $315.00 to $365.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Atlassian currently has a consensus rating of "Moderate Buy" and an average target price of $316.77.

Atlassian Stock Up 0.5 %

Shares of NASDAQ:TEAM traded up $1.18 during midday trading on Friday, reaching $227.34. The company's stock had a trading volume of 2,518,346 shares, compared to its average volume of 1,941,751. The firm has a market capitalization of $59.56 billion, a P/E ratio of -169.66 and a beta of 0.91. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The firm has a 50 day moving average of $271.54 and a 200-day moving average of $235.36.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Transactions at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the transaction, the president now owns 210,471 shares of the company's stock, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $216.90, for a total transaction of $1,723,921.20. Following the transaction, the chief executive officer now directly owns 71,532 shares of the company's stock, valued at $15,515,290.80. The trade was a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 255,085 shares of company stock worth $69,211,537. Corporate insiders own 38.55% of the company's stock.

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.