Atlassian Co. (NASDAQ:TEAM) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS raised its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,793 shares of the technology company's stock after buying an additional 1,746 shares during the quarter. DnB Asset Management AS's holdings in Atlassian were worth $6,764,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TEAM. Murphy & Mullick Capital Management Corp purchased a new position in shares of Atlassian in the 4th quarter valued at approximately $27,000. Avion Wealth increased its stake in 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 purchasing an additional 157 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after buying an additional 41 shares during the last quarter. Mainstream Capital Management LLC acquired a new stake in shares of Atlassian during the fourth quarter worth $49,000. Finally, True Wealth Design LLC grew its holdings in shares of 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 last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Price Performance

TEAM traded up $4.20 during midday trading on Tuesday, hitting $216.41. 2,424,840 shares of the company traded hands, compared to its average volume of 1,984,383. The business has a 50 day simple moving average of $267.68 and a two-hundred day simple moving average of $239.81. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a market capitalization of $56.70 billion, a price-to-earnings ratio of -161.50 and a beta of 0.91. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

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Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates 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 analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Cantor Fitzgerald lifted their price target on Atlassian from $264.00 to $304.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. The Goldman Sachs Group upped their target price on Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. BMO Capital Markets raised shares of Atlassian from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Wells Fargo & Company lifted their price objective on shares of Atlassian from $350.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Truist Financial cut their price objective on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a research note on Monday. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $310.18.

Insider Buying and Selling

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $242.27, for a total transaction of $1,925,561.96. Following the transaction, the chief executive officer now directly owns 476,880 shares in the company, valued at $115,533,717.60. The trade was a 1.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now directly owns 210,471 shares of the company's stock, valued at approximately $54,690,889.35. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 270,981 shares of company stock worth $72,069,956. 38.55% of the stock is owned by corporate insiders.

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.