Xponance Inc. Boosts Stake in Atlassian Co. (NASDAQ:TEAM)

Xponance Inc. boosted its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,986 shares of the technology company's stock after buying an additional 2,169 shares during the period. Xponance Inc.'s holdings in Atlassian were worth $7,298,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TEAM. True Wealth Design LLC raised its position in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock valued at $37,000 after buying an additional 231 shares in the last quarter. Avion Wealth increased its stake in Atlassian by 1,308.3% during the fourth 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 position in Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after purchasing an additional 41 shares during the period. Mainstream Capital Management LLC bought a new stake in shares of Atlassian in the 4th quarter valued at approximately $49,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Atlassian in the 4th quarter worth approximately $56,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Activity

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Friday, January 17th. The shares were sold at an average price of $253.01, for a total value of $2,010,923.48. Following the transaction, the director now directly owns 389,452 shares of the company's stock, valued at approximately $98,535,250.52. The trade was a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the company's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the transaction, the chief executive officer now directly owns 429,192 shares in the company, valued at approximately $104,529,711.60. The trade was a 3.57 % 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 worth $71,015,177. Corporate insiders own 38.55% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler raised their price target on Atlassian from $310.00 to $365.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Cantor Fitzgerald lifted their price target on shares of Atlassian from $264.00 to $304.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Scotiabank upped their price target on shares of Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a report on Friday, January 31st. William Blair reissued an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Finally, StockNews.com raised Atlassian from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and a consensus target price of $316.77.

Atlassian Stock Up 3.2 %

Atlassian stock traded up $7.28 during mid-day trading on Monday, reaching $234.62. 1,897,222 shares of the company were exchanged, compared to its average volume of 1,941,152. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The business has a fifty day moving average of $271.24 and a 200 day moving average of $236.81. The firm has a market cap of $61.47 billion, a P/E ratio of -175.09 and a beta of 0.91. 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 (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data 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%. Research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.