Abacus FCF Advisors LLC Has $5.70 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

Abacus FCF Advisors LLC lifted its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 104.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,434 shares of the technology company's stock after purchasing an additional 11,972 shares during the period. Abacus FCF Advisors LLC's holdings in Atlassian were worth $5,703,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TEAM. Murphy & Mullick Capital Management Corp acquired a new position in Atlassian during the 4th quarter valued at about $27,000. Summit Securities Group LLC bought a new position in Atlassian in the fourth quarter valued at approximately $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Atlassian during the 4th quarter worth $39,000. Avion Wealth raised its position in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after acquiring an additional 157 shares during the last quarter. Finally, Assetmark Inc. lifted 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 valued at $43,000 after purchasing an additional 41 shares during the period. Institutional investors own 94.45% of the company's stock.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 568 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.08, for a total value of $177,261.44. Following the sale, the chief accounting officer now owns 52,142 shares in the company, valued at $16,272,475.36. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $322.31, for a total value of $2,561,719.88. Following the transaction, the chief executive officer now owns 270,232 shares of the company's stock, valued at $87,098,475.92. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,033 shares of company stock valued at $68,608,284. 38.55% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TEAM shares. Truist Financial decreased their price objective on Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Barclays upped their price target on Atlassian from $275.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Macquarie raised shares of Atlassian from a "neutral" rating to an "outperform" rating and reduced their price objective for the stock from $317.00 to $270.00 in a research note on Thursday. William Blair reaffirmed an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Finally, UBS Group reduced their price target on shares of Atlassian from $330.00 to $230.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 1st. Eight equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $297.50.

Atlassian Stock Up 0.2 %

TEAM stock traded up $0.34 during midday trading on Friday, hitting $198.37. The company's stock had a trading volume of 2,003,551 shares, compared to its average volume of 2,041,722. The company's fifty day moving average price is $251.13 and its 200 day moving average price is $241.80. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $51.97 billion, a P/E ratio of -148.04 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its 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, equities research analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

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.