Cerity Partners LLC Has $5.15 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

Cerity Partners LLC increased its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 17.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,148 shares of the technology company's stock after buying an additional 3,131 shares during the period. Cerity Partners LLC's holdings in Atlassian were worth $5,147,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of TEAM. Federated Hermes Inc. boosted its holdings in shares of Atlassian by 99.8% during the fourth quarter. Federated Hermes Inc. now owns 1,998 shares of the technology company's stock worth $486,000 after acquiring an additional 998 shares during the period. Ilmarinen Mutual Pension Insurance Co grew its holdings in Atlassian by 20.0% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 60,000 shares of the technology company's stock valued at $14,603,000 after buying an additional 10,000 shares in the last quarter. Russell Investments Group Ltd. increased its position in Atlassian by 54.2% during the 4th quarter. Russell Investments Group Ltd. now owns 252,593 shares of the technology company's stock worth $61,621,000 after buying an additional 88,742 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Atlassian by 5.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 344,596 shares of the technology company's stock worth $83,868,000 after buying an additional 17,187 shares in the last quarter. Finally, Sit Investment Associates Inc. boosted its position in shares of Atlassian by 4.5% in the fourth quarter. Sit Investment Associates Inc. now owns 56,702 shares of the technology company's stock valued at $13,800,000 after acquiring an additional 2,433 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

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Atlassian Trading Up 3.1 %

Shares of TEAM stock traded up $6.26 during mid-day trading on Tuesday, reaching $207.25. 2,246,136 shares of the stock traded hands, compared to its average volume of 2,042,229. The stock's fifty day simple moving average is $246.50 and its two-hundred day simple moving average is $241.83. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. 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 cap of $54.30 billion, a price-to-earnings ratio of -154.66 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) 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%. On average, research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Canaccord Genuity Group lifted their price objective on shares of Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Scotiabank boosted their price target on Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a research note on Friday, January 31st. Oppenheimer raised their price objective on Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Jefferies Financial Group cut their target price on Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, Citigroup raised their price target on Atlassian from $255.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Six equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $300.00.

Insider Buying and Selling at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 1,723 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total transaction of $526,962.32. Following the completion of the transaction, the president now owns 199,934 shares in the company, valued at approximately $61,147,814.56. This trade represents a 0.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $253.01, for a total transaction of $2,010,923.48. Following the completion of the sale, the director now directly owns 389,452 shares in the company, valued at approximately $98,535,250.52. This represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 270,981 shares of company stock worth $69,889,581. Insiders own 38.55% of the company's stock.

About Atlassian

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.