Bryce Point Capital LLC Makes New $487,000 Investment in Atlassian Co. (NASDAQ:TEAM)

Bryce Point Capital LLC purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,001 shares of the technology company's stock, valued at approximately $487,000.

Other large investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Atlassian by 17.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 30,353 shares of the technology company's stock worth $4,824,000 after acquiring an additional 4,479 shares during the period. Townsquare Capital LLC increased its holdings in shares of Atlassian by 16.0% in the third quarter. Townsquare Capital LLC now owns 1,338 shares of the technology company's stock valued at $212,000 after purchasing an additional 185 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Atlassian by 4.2% in the third quarter. Janus Henderson Group PLC now owns 15,550 shares of the technology company's stock valued at $2,469,000 after purchasing an additional 624 shares during the period. Investment Management Corp of Ontario lifted its stake in shares of Atlassian by 50.8% during the 3rd quarter. Investment Management Corp of Ontario now owns 5,341 shares of the technology company's stock worth $848,000 after buying an additional 1,800 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its holdings in shares of Atlassian by 2.1% during the 3rd quarter. Royal London Asset Management Ltd. now owns 62,408 shares of the technology company's stock worth $9,911,000 after buying an additional 1,261 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Price Performance

Atlassian stock traded down $10.49 during mid-day trading on Thursday, reaching $199.13. The company had a trading volume of 1,151,392 shares, compared to its average volume of 2,027,818. The business has a fifty day simple moving average of $255.77 and a 200 day simple moving average of $240.75. The company has a market cap of $52.17 billion, a P/E ratio of -147.96 and a beta of 1.07. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week 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.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate 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, equities research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Activity

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the transaction, the president now directly 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 link. Also, CAO Gene Liu sold 779 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the sale, the chief accounting officer now directly owns 52,710 shares of the company's stock, valued at approximately $16,867,727.10. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,981 shares of company stock valued at $70,925,444 over the last quarter. 38.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. William Blair restated an "outperform" rating on shares of Atlassian in a research report on Friday, January 31st. Scotiabank lifted 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. BMO Capital Markets decreased their price objective on Atlassian from $360.00 to $295.00 and set an "outperform" rating on the stock in a report on Thursday. Oppenheimer increased their price objective on Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Finally, Cantor Fitzgerald upgraded shares of Atlassian from a "neutral" rating to an "overweight" rating and decreased their price target for the company from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $299.55.

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.