Atlassian Co. (NASDAQ:TEAM) Shares Bought by Sit Investment Associates Inc.

Sit Investment Associates Inc. boosted its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,702 shares of the technology company's stock after purchasing an additional 2,433 shares during the quarter. Sit Investment Associates Inc.'s holdings in Atlassian were worth $13,800,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Corebridge Financial Inc. raised its stake in Atlassian by 0.3% in the 4th quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after purchasing an additional 35 shares during the last quarter. Assetmark Inc. raised its position in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after buying an additional 41 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after buying an additional 47 shares in the last quarter. GAMMA Investing LLC boosted its position in Atlassian by 22.9% during 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 during 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 acquiring an additional 56 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $185.61, for a total value of $1,475,228.28. Following the completion of the sale, the director now owns 333,816 shares in the company, valued at approximately $61,959,587.76. The trade was a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the transaction, the president now directly owns 210,471 shares in the company, valued at $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 270,981 shares of company stock worth $70,925,444. Corporate insiders own 38.55% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Oppenheimer boosted their target price on Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. UBS Group cut their target price on Atlassian from $330.00 to $230.00 and set a "neutral" rating for the company in a research note on Tuesday, April 1st. William Blair reissued an "outperform" rating on shares of Atlassian in a research report on Friday, January 31st. Canaccord Genuity Group raised their price objective on shares of Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Finally, Citigroup increased their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Eight equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $299.55.

Atlassian Stock Down 4.6 %

Atlassian stock traded down $9.66 during trading on Thursday, reaching $199.96. The stock had a trading volume of 1,597,696 shares, compared to its average volume of 2,029,687. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The business has a 50 day moving average price of $255.77 and a 200 day moving average price of $240.75. The stock has a market cap of $52.39 billion, a PE ratio of -148.57 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Atlassian 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.