2,525 Shares in Atlassian Co. (NASDAQ:TEAM) Acquired by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC bought a new position in Atlassian Co. (NASDAQ:TEAM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,525 shares of the technology company's stock, valued at approximately $615,000.

Other large investors have also modified their holdings of the company. Corebridge Financial Inc. increased its stake in Atlassian by 0.3% during the 4th quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock worth $2,555,000 after buying an additional 35 shares during the period. Assetmark Inc. lifted its stake 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 acquiring an additional 41 shares in the last quarter. Allworth Financial LP boosted its holdings in Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after purchasing an additional 47 shares during the last quarter. GAMMA Investing LLC grew its stake in Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock valued at $71,000 after purchasing an additional 54 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Atlassian by 4.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company's stock valued at $357,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $236.89, for a total value of $1,882,801.72. Following the completion of the transaction, the chief executive officer now directly owns 421,244 shares in the company, valued at $99,788,491.16. This trade represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 1,723 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total transaction of $526,962.32. Following the transaction, the president now owns 199,934 shares in the company, valued at $61,147,814.56. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 263,033 shares of company stock valued at $68,608,284. Company insiders own 38.55% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Canaccord Genuity Group increased their target price on Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Piper Sandler increased their price objective on shares of Atlassian from $310.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Citigroup raised their price objective on shares of Atlassian from $255.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, January 17th. BMO Capital Markets cut their target price on shares of Atlassian from $360.00 to $295.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company decreased their price target on Atlassian from $375.00 to $330.00 and set an "overweight" rating for the company in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $297.50.

Atlassian Stock Performance

Atlassian stock traded up $0.34 during midday trading on Friday, reaching $198.37. 2,003,551 shares of the stock traded hands, compared to its average volume of 2,039,036. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market cap of $51.97 billion, a price-to-earnings ratio of -148.04 and a beta of 1.07. The firm has a fifty day moving average price of $251.13 and a two-hundred day moving average price of $241.25.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data 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, equities research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

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.