Teacher Retirement System of Texas Purchases New Shares in Atlassian Co. (NASDAQ:TEAM)

Teacher Retirement System of Texas acquired a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 9,439 shares of the technology company's stock, valued at approximately $2,297,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TEAM. True Wealth Design LLC increased its position in 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 buying an additional 231 shares during the last quarter. Avion Wealth increased its holdings in shares of Atlassian by 1,308.3% during 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 last quarter. Assetmark Inc. raised its stake 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 period. Mainstream Capital Management LLC acquired a new stake in Atlassian during the 4th quarter valued at $49,000. Finally, Kestra Investment Management LLC bought a new position in Atlassian during the fourth quarter worth $56,000. 94.45% of the stock is owned by institutional investors.

Atlassian Trading Down 2.1 %

Shares of TEAM traded down $4.65 during trading hours on Friday, hitting $217.99. 2,418,163 shares of the stock were exchanged, compared to its average volume of 1,976,725. The firm has a market capitalization of $57.11 billion, a P/E ratio of -162.68 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The business has a 50-day moving average of $269.28 and a 200-day moving average of $238.07.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. 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 note on Friday, January 31st. JMP Securities restated a "market perform" rating on shares of Atlassian in a report on Friday, January 31st. Wells Fargo & Company upped their target price on Atlassian from $350.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Raymond James reiterated an "outperform" rating and set a $330.00 price objective (up previously from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Finally, Mizuho boosted their target price on shares of Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Atlassian has an average rating of "Moderate Buy" and a consensus target price of $316.77.

Insider Buying and Selling at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction 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 sale, the president now owns 210,471 shares of the company's stock, valued at approximately $54,690,889.35. This trade represents a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $246.97, for a total transaction of $1,962,917.56. Following the transaction, the chief executive officer now owns 7,948 shares in the company, valued at approximately $1,962,917.56. The trade was a 50.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 263,033 shares of company stock valued at $70,644,164. 38.55% of the stock is currently owned by company insiders.

Atlassian Company 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.