Whittier Trust Co. Acquires 1,377 Shares of Atlassian Co. (NASDAQ:TEAM)

Whittier Trust Co. increased its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 2,810.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,426 shares of the technology company's stock after purchasing an additional 1,377 shares during the quarter. Whittier Trust Co.'s holdings in Atlassian were worth $347,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock valued at $37,000 after purchasing an additional 231 shares during the period. Avion Wealth grew its holdings in shares of Atlassian by 1,308.3% in 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 during the period. Assetmark Inc. increased its position in shares of 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 buying an additional 41 shares in the last quarter. Mainstream Capital Management LLC acquired a new stake in Atlassian during the 4th quarter worth $49,000. Finally, Kestra Investment Management LLC bought a new position in Atlassian during the fourth quarter worth about $56,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Trading Down 3.1 %

NASDAQ:TEAM traded down $7.01 on Thursday, reaching $222.64. 1,755,098 shares of the stock traded hands, compared to its average volume of 1,936,555. The firm has a market capitalization of $58.33 billion, a price-to-earnings ratio of -166.15 and a beta of 0.91. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The company's 50 day moving average is $270.60 and its 200-day moving average is $237.80.

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Atlassian (NASDAQ:TEAM - Get Free Report) last announced its 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 return on equity of 17.37% and a negative net margin of 7.22%. Equities research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Activity

In other 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 transaction, the director now owns 389,452 shares of the company's stock, valued at $98,535,250.52. This represents a 2.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Gene Liu sold 779 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the sale, the chief accounting officer now directly owns 52,710 shares of the company's stock, valued at $16,867,727.10. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,085 shares of company stock valued at $68,818,985 in the last ninety days. 38.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several recent analyst reports. Oppenheimer lifted their price objective on Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Wells Fargo & Company upped their price target on shares of Atlassian from $350.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, January 31st. William Blair restated an "outperform" rating on shares of Atlassian in a report on Friday, January 31st. Jefferies Financial Group upped their target price on shares of Atlassian from $300.00 to $325.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Finally, KeyCorp lifted their price target on Atlassian from $315.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $316.77.

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.