Illinois Municipal Retirement Fund Buys 2,935 Shares of Atlassian Co. (NASDAQ:TEAM)

Illinois Municipal Retirement Fund boosted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,017 shares of the technology company’s stock after purchasing an additional 2,935 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Atlassian were worth $19,475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEAM. True Wealth Design LLC boosted 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 purchasing an additional 231 shares during the period. Avion Wealth boosted its position 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 purchasing an additional 157 shares during the period. Reston Wealth Management LLC bought a new position in Atlassian during the third quarter worth $48,000. Kestra Investment Management LLC bought a new position in Atlassian during the fourth quarter worth $56,000. Finally, Brown Brothers Harriman & Co. boosted its position 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 purchasing an additional 82 shares during the period. 94.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Oppenheimer lifted their target price on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. KeyCorp lifted their target price on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company lifted their target price on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Scotiabank lifted their target price on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Finally, BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Insider Transactions at Atlassian

In other Atlassian news, CAO Gene Liu sold 568 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the sale, the chief accounting officer now owns 52,142 shares of the company’s stock, valued at approximately $16,272,475.36. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $265.96, for a total transaction of $2,113,850.08. Following the sale, the director now directly owns 158,960 shares of the company’s stock, valued at $42,277,001.60. This represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,501 shares of company stock worth $75,480,290. Insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $284.06 on Tuesday. The stock has a market cap of $74.42 billion, a P/E ratio of -211.98 and a beta of 0.87. 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 stock’s 50-day moving average is $273.10 and its 200-day moving average is $224.90. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results 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%. Equities research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

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.