3,838 Shares in Atlassian Co. (NASDAQ:TEAM) Acquired by Fortis Capital Advisors LLC

Fortis Capital Advisors LLC bought a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,838 shares of the technology company's stock, valued at approximately $934,000.

Several other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after acquiring an additional 1,806,042 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Atlassian in the fourth quarter worth $687,486,000. Invesco Ltd. raised its stake in Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock valued at $595,171,000 after purchasing an additional 1,777,179 shares in the last quarter. Geode Capital Management LLC lifted its position in Atlassian by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock valued at $528,851,000 after purchasing an additional 27,899 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Atlassian in the 4th quarter worth $296,697,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Joseph Leo Binz sold 2,587 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.09, for a total transaction of $807,376.83. Following the completion of the sale, the chief financial officer now owns 169,342 shares of the company's stock, valued at $52,849,944.78. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $251.20, for a total transaction of $1,996,537.60. Following the completion of the transaction, the chief executive officer now directly owns 405,348 shares in the company, valued at $101,823,417.60. This represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 270,981 shares of company stock worth $69,889,581. 38.55% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

TEAM has been the topic of several recent research reports. Cantor Fitzgerald upgraded shares of Atlassian from a "neutral" rating to an "overweight" rating and decreased their target price for the company from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Piper Sandler upped their price objective on Atlassian from $310.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Robert W. Baird upgraded Atlassian from a "neutral" rating to an "outperform" rating and dropped their target price for the stock from $320.00 to $255.00 in a report on Monday. Wells Fargo & Company decreased their price target on Atlassian from $375.00 to $330.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, Scotiabank raised their price target on Atlassian from $250.00 to $330.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Atlassian has a consensus rating of "Moderate Buy" and an average target price of $300.00.

Atlassian Stock Up 3.1 %

Shares of TEAM traded up $6.26 during midday trading on Tuesday, reaching $207.25. 2,246,136 shares of the stock were exchanged, compared to its average volume of 2,042,229. The company has a market capitalization of $54.30 billion, a P/E ratio of -154.66 and a beta of 1.07. 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 Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company's 50 day moving average is $248.73 and its two-hundred day moving average is $242.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (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, sell-side analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

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.