Pallas Capital Advisors LLC Has $1.03 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

Pallas Capital Advisors LLC raised its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 185.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,245 shares of the technology company's stock after acquiring an additional 2,760 shares during the period. Pallas Capital Advisors LLC's holdings in Atlassian were worth $1,033,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock worth $37,000 after buying an additional 96 shares during the period. True Wealth Design LLC raised its position in shares of Atlassian by 23,100.0% during the 3rd 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 in the last quarter. Reston Wealth Management LLC bought a new stake in shares of Atlassian in the 3rd quarter valued at approximately $48,000. Quarry LP boosted its stake in Atlassian by 143.8% during the second quarter. Quarry LP now owns 373 shares of the technology company's stock worth $66,000 after buying an additional 220 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its stake 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 purchasing an additional 82 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $189.96, for a total transaction of $1,509,802.08. Following the completion of the sale, the director now directly owns 413,296 shares of the company's stock, valued at $78,509,708.16. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the business's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the sale, the chief executive officer now owns 429,192 shares in the company, valued at $104,529,711.60. This represents a 3.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 279,376 shares of company stock valued at $66,592,724. 38.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on TEAM. Scotiabank upped their price objective on Atlassian from $175.00 to $250.00 and gave the company a "sector perform" rating in a research report on Friday, November 1st. Jefferies Financial Group boosted their price target on Atlassian from $280.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. BMO Capital Markets upgraded shares of Atlassian from a "market perform" rating to an "outperform" rating and raised their target price for the company from $255.00 to $292.00 in a research note on Friday. Canaccord Genuity Group boosted their price target on Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Finally, Macquarie began coverage on Atlassian in a research note on Thursday, December 12th. They issued a "neutral" rating and a $290.00 target price for the company. Eight equities research 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.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $266.10.

Atlassian Stock Up 4.3 %

Shares of Atlassian stock traded up $10.16 during trading on Tuesday, reaching $246.40. The company had a trading volume of 2,049,611 shares, compared to its average volume of 1,877,198. The company has a market cap of $64.17 billion, a price-to-earnings ratio of -162.10 and a beta of 0.83. The firm's fifty day moving average is $255.17 and its 200-day moving average is $200.72. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. 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 issued its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm's revenue for the quarter was up 21.5% on a year-over-year basis. During the same period last year, the company earned ($0.07) earnings per share. On average, analysts anticipate that Atlassian Co. will post -0.54 EPS 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.