Hanseatic Management Services Inc. Takes $603,000 Position in Atlassian Co. (NASDAQ:TEAM)

Hanseatic Management Services Inc. purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,478 shares of the technology company's stock, valued at approximately $603,000.

A number of other hedge funds also recently bought and sold shares of TEAM. GAMMA Investing LLC grew its stake in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock worth $37,000 after purchasing an additional 96 shares in the last quarter. True Wealth Design LLC lifted its holdings in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock worth $37,000 after buying an additional 231 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of Atlassian during the 3rd quarter worth about $48,000. Quarry LP increased its holdings in shares of Atlassian by 143.8% in the 2nd quarter. Quarry LP now owns 373 shares of the technology company's stock valued at $66,000 after acquiring an additional 220 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company's stock worth $69,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TEAM shares. Wells Fargo & Company increased their price target on shares of Atlassian from $300.00 to $350.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Robert W. Baird increased their target price on shares of Atlassian from $175.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. UBS Group lifted their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. KeyCorp upped their price objective on shares of Atlassian from $260.00 to $315.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. Finally, Piper Sandler lifted their target price on Atlassian from $265.00 to $310.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $272.00.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $188.56, for a total value of $1,498,674.88. Following the sale, the chief executive officer now owns 373,556 shares of the company's stock, valued at approximately $70,437,719.36. This represents a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Gene Liu sold 1,024 shares of Atlassian stock in a transaction on Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $230,860.80. Following the transaction, the chief accounting officer now directly owns 59,168 shares of the company's stock, valued at $13,339,425.60. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 280,136 shares of company stock worth $67,814,587. 38.55% of the stock is owned by company insiders.

Atlassian Stock Down 0.7 %

NASDAQ TEAM traded down $1.89 on Friday, hitting $252.36. 1,192,393 shares of the company's stock were exchanged, compared to its average volume of 1,559,382. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The firm's 50-day moving average price is $256.36 and its two-hundred day moving average price is $202.09. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Atlassian's revenue was up 21.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Atlassian Co. will post -0.55 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.