Arrowstreet Capital Limited Partnership Buys Shares of 963,708 Atlassian Co. (NASDAQ:TEAM)

Arrowstreet Capital Limited Partnership bought a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 963,708 shares of the technology company's stock, valued at approximately $234,547,000. Arrowstreet Capital Limited Partnership owned 0.37% of Atlassian at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in TEAM. Murphy & Mullick Capital Management Corp purchased a new stake in Atlassian during the fourth quarter worth $27,000. Avion Wealth boosted its position in shares of Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after buying an additional 157 shares in the last quarter. Assetmark Inc. grew its stake in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after acquiring an additional 41 shares during the last quarter. Mainstream Capital Management LLC purchased a new position in Atlassian during the 4th quarter valued at about $49,000. Finally, True Wealth Design LLC increased its holdings in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock valued at $37,000 after acquiring an additional 231 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TEAM. Canaccord Genuity Group increased their price target on shares of Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Truist Financial dropped their price target on Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research report on Monday. Scotiabank boosted their price target on Atlassian from $250.00 to $330.00 and gave the stock a "sector perform" rating in a report on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Finally, JMP Securities reissued a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $310.18.

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Atlassian Trading Up 2.0 %

Shares of Atlassian stock traded up $4.20 during trading hours on Tuesday, hitting $216.41. The company's stock had a trading volume of 2,424,840 shares, compared to its average volume of 1,980,175. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $56.70 billion, a PE ratio of -161.50 and a beta of 0.91. The business has a fifty day moving average of $268.47 and a 200 day moving average of $239.44. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates 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, equities analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 15,896 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the transaction, the chief executive officer now directly owns 429,192 shares of the company's stock, valued at $104,529,711.60. This represents a 3.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $253.01, for a total transaction of $2,010,923.48. Following the sale, the director now directly owns 389,452 shares of the company's stock, valued at $98,535,250.52. The trade was a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,981 shares of company stock valued at $72,069,956 in the last quarter. Company insiders own 38.55% 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.