6,145 Shares in Atlassian Co. (NASDAQ:TEAM) Acquired by ABC Arbitrage SA

ABC Arbitrage SA purchased a new position in Atlassian Co. (NASDAQ:TEAM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,145 shares of the technology company's stock, valued at approximately $1,496,000.

Several other large investors have also bought and sold shares of TEAM. Avion Wealth increased its position in Atlassian by 1,308.3% in the fourth 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. True Wealth Design LLC increased its holdings in Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock valued at $37,000 after buying an additional 231 shares during the period. GAMMA Investing LLC lifted its position in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock valued at $37,000 after acquiring an additional 96 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of Atlassian in the third quarter valued at about $48,000. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company's stock worth $69,000 after buying an additional 82 shares during the period. 94.45% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, President Anutthara Bharadwaj sold 1,520 shares of the firm's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the completion of the sale, the president now directly owns 211,991 shares of the company's stock, valued at $54,006,827.16. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88. Following the completion of the sale, the chief executive officer now owns 270,232 shares of the company's stock, valued at approximately $87,098,475.92. This trade represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 273,778 shares of company stock valued at $74,688,580 over the last three months. 38.55% of the stock is currently owned by insiders.

Atlassian Stock Performance

Shares of TEAM stock traded down $11.72 during trading hours on Wednesday, reaching $303.72. The stock had a trading volume of 2,334,268 shares, compared to its average volume of 2,076,888. 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 firm has a market capitalization of $79.57 billion, a PE ratio of -226.66 and a beta of 0.87. The firm has a 50-day simple moving average of $272.45 and a 200-day simple moving average of $221.16.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted 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, equities analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the topic of several recent research reports. William Blair restated an "outperform" rating on shares of Atlassian in a report on Friday, January 31st. Citigroup boosted their price objective on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, January 17th. KeyCorp increased their price target on shares of Atlassian from $315.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. JMP Securities reiterated a "market perform" rating on shares of Atlassian in a research report on Friday, January 31st. Finally, Truist Financial reaffirmed a "buy" rating and set a $350.00 price target (up from $300.00) on shares of Atlassian in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $319.71.

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.