Capital Performance Advisors LLP Boosts Stake in Atlassian Co. (NASDAQ:TEAM)

Capital Performance Advisors LLP increased its position in Atlassian Co. (NASDAQ:TEAM) by 33.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 870 shares of the technology company’s stock after purchasing an additional 219 shares during the period. Capital Performance Advisors LLP’s holdings in Atlassian were worth $212,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC increased its stake 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 acquiring an additional 231 shares during 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. Reston Wealth Management LLC bought a new stake in Atlassian during the third quarter worth approximately $48,000. Brown Brothers Harriman & Co. increased its stake in Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after acquiring an additional 82 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake 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. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 1,659 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total transaction of $407,798.79. Following the sale, the president now directly owns 213,511 shares of the company’s stock, valued at approximately $52,483,138.91. This trade represents a 0.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88. Following the sale, the chief executive officer now owns 270,232 shares in the company, valued at $87,098,475.92. This trade represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 277,276 shares of company stock valued at $74,998,903 in the last ninety days. Company insiders own 38.55% of the company’s stock.

Atlassian Stock Down 0.9 %

Atlassian stock opened at $313.10 on Monday. The business has a fifty day moving average of $270.09 and a two-hundred day moving average of $218.39. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market cap of $82.03 billion, a P/E ratio of -233.65 and a beta of 0.87. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00.

Atlassian (NASDAQ:TEAM) last posted 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%. On average, analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler boosted their price objective on Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Canaccord Genuity Group boosted their price objective on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group upped their target price on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Truist Financial reaffirmed a “buy” rating and set a $350.00 target price (up previously from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and an average target price of $319.71.

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.