Rhumbline Advisers Grows Holdings in Atlassian Co. (NASDAQ:TEAM)

Rhumbline Advisers increased its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,041 shares of the technology company's stock after acquiring an additional 3,067 shares during the quarter. Rhumbline Advisers owned about 0.08% of Atlassian worth $48,199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC increased its position in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock worth $37,000 after purchasing an additional 231 shares in the last quarter. Avion Wealth increased its position in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after buying an additional 157 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in Atlassian in the third quarter valued at about $48,000. Brown Brothers Harriman & Co. raised its stake in Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company's stock valued at $69,000 after buying an additional 82 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Atlassian by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock worth $71,000 after acquiring an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on TEAM shares. Truist Financial reaffirmed a "buy" rating and issued a $350.00 price objective (up from $300.00) on shares of Atlassian in a research report on Friday, January 31st. Mizuho raised their price target on shares of Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Raymond James reissued an "outperform" rating and set a $330.00 price objective (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. JMP Securities restated a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Jefferies Financial Group boosted their price target on Atlassian from $300.00 to $325.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Atlassian has an average rating of "Moderate Buy" and an average price target of $319.71.

Atlassian Price Performance

Shares of NASDAQ:TEAM traded down $12.50 during trading on Friday, reaching $285.99. The stock had a trading volume of 1,717,448 shares, compared to its average volume of 2,056,392. 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 Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The stock has a market cap of $74.93 billion, a PE ratio of -213.42 and a beta of 0.87. The business has a fifty day moving average price of $272.83 and a 200-day moving average price of $221.70.

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

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 568 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.08, for a total value of $177,261.44. Following the completion of the sale, the chief accounting officer now directly owns 52,142 shares in the company, valued at $16,272,475.36. This represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $264.20, for a total transaction of $2,099,861.60. Following the completion of the sale, the director now directly owns 190,752 shares of the company's stock, valued at $50,396,678.40. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 283,449 shares of company stock valued at $77,580,151. Corporate insiders own 38.55% of the company's stock.

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.