Marshall Wace LLP Increases Position in Atlassian Co. (NASDAQ:TEAM)

Marshall Wace LLP grew its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 10,347.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 261,185 shares of the technology company's stock after purchasing an additional 258,685 shares during the quarter. Marshall Wace LLP owned about 0.10% of Atlassian worth $63,567,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TEAM. Murphy & Mullick Capital Management Corp purchased a new position in shares of Atlassian during the 4th quarter worth approximately $27,000. Summit Securities Group LLC bought a new position in shares of Atlassian in the 4th quarter worth about $38,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Atlassian in the 4th quarter worth approximately $39,000. Avion Wealth raised its holdings in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after acquiring an additional 157 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $269.01, for a total transaction of $2,138,091.48. Following the transaction, the chief executive officer now directly owns 349,712 shares in the company, valued at approximately $94,076,025.12. The trade was a 2.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 1,723 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total value of $526,962.32. Following the completion of the sale, the president now owns 199,934 shares of the company's stock, valued at approximately $61,147,814.56. The trade was a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 261,513 shares of company stock worth $66,621,566. Corporate insiders own 38.55% of the company's stock.

Atlassian Stock Performance

NASDAQ TEAM traded up $9.22 on Wednesday, reaching $209.52. 660,541 shares of the company's stock traded hands, compared to its average volume of 2,045,861. The firm has a market cap of $54.89 billion, a price-to-earnings ratio of -156.36 and a beta of 1.07. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The stock has a 50 day moving average price of $234.84 and a 200-day moving average price of $243.17. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Equities research analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on TEAM. Scotiabank increased their price objective on Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a research report on Friday, January 31st. William Blair reissued an "outperform" rating on shares of Atlassian in a report on Friday, January 31st. The Goldman Sachs Group boosted their target price on shares of Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Jefferies Financial Group decreased their price target on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Truist Financial decreased their price objective on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Six research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Atlassian has a consensus rating of "Moderate Buy" and an average target price 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.