Atlassian Co. (NASDAQ:TEAM) Position Boosted by Sterling Capital Management LLC

Sterling Capital Management LLC raised its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,908 shares of the technology company's stock after acquiring an additional 1,966 shares during the quarter. Sterling Capital Management LLC's holdings in Atlassian were worth $10,930,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Atlassian during the 4th quarter worth about $27,000. Summit Securities Group LLC acquired a new stake in Atlassian during the fourth quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Atlassian in the 4th quarter worth approximately $39,000. Avion Wealth grew its stake 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 period. Finally, Assetmark Inc. raised its holdings in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Stock Up 1.3 %

Shares of TEAM stock traded up $2.62 during mid-day trading on Monday, reaching $200.99. 2,031,297 shares of the company were exchanged, compared to its average volume of 2,041,681. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $52.66 billion, a P/E ratio of -149.99 and a beta of 1.07. The business's 50 day simple moving average is $251.13 and its 200 day simple moving average is $241.80.

Remove Ads

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) 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%. Research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TEAM. Stephens reaffirmed an "equal weight" rating and issued a $255.00 price objective on shares of Atlassian in a research report on Monday. Piper Sandler lifted their price target on Atlassian from $310.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Robert W. Baird raised shares of Atlassian from a "neutral" rating to an "outperform" rating and dropped their price objective for the company from $320.00 to $255.00 in a research note on Monday. Oppenheimer raised their target price on shares of Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Finally, Citigroup upped their price target on shares of Atlassian from $255.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Seven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $300.00.

Insider Activity at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $253.01, for a total transaction of $2,010,923.48. Following the sale, the director now owns 389,452 shares in the company, valued at $98,535,250.52. This represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the transaction, the president now owns 210,471 shares of the company's stock, valued at approximately $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 ninety days, insiders have sold 263,033 shares of company stock valued at $68,282,575. Corporate insiders own 38.55% of the company's stock.

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.