Chiron Investment Management LLC Purchases Shares of 3,371 Atlassian Co. (NASDAQ:TEAM)

Chiron Investment Management LLC purchased a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,371 shares of the technology company's stock, valued at approximately $820,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TEAM. Belpointe Asset Management LLC purchased a new stake in shares of Atlassian during the 4th quarter valued at $934,000. CreativeOne Wealth LLC purchased a new stake in Atlassian in the fourth quarter valued at about $221,000. Mariner LLC boosted its holdings in Atlassian by 19.4% in the fourth quarter. Mariner LLC now owns 10,036 shares of the technology company's stock worth $2,443,000 after acquiring an additional 1,634 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Atlassian by 6.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 5,137 shares of the technology company's stock worth $1,250,000 after acquiring an additional 322 shares during the last quarter. Finally, Townsquare Capital LLC grew its stake in shares of Atlassian by 53.4% during the fourth quarter. Townsquare Capital LLC now owns 2,052 shares of the technology company's stock worth $499,000 after acquiring an additional 714 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Price Performance

Shares of TEAM traded down $2.56 during trading hours on Friday, hitting $202.75. 1,564,440 shares of the stock were exchanged, compared to its average volume of 2,044,340. The stock's 50-day moving average price is $241.92 and its two-hundred day moving average price is $241.88. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $53.12 billion, a price-to-earnings ratio of -151.30 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results 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 return on equity of 17.37% and a negative net margin of 7.22%. Research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 568 shares of the business'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 of the company's stock, valued at $16,272,475.36. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $255.71, for a total value of $2,032,383.08. Following the transaction, the director now owns 381,504 shares of the company's stock, valued at $97,554,387.84. This trade represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 261,513 shares of company stock valued at $67,123,959 in the last 90 days. Company insiders own 38.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wells Fargo & Company lowered their target price on shares of Atlassian from $375.00 to $330.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. BMO Capital Markets dropped their price objective on shares of Atlassian from $360.00 to $295.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. StockNews.com lowered Atlassian from a "buy" rating to a "hold" rating in a research note on Monday, March 31st. Macquarie raised Atlassian from a "neutral" rating to an "outperform" rating and cut their price objective for the company from $317.00 to $270.00 in a report on Thursday, April 10th. Finally, Canaccord Genuity Group lifted their target price on Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $297.73.

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.