Xponance Inc. Acquires 2,169 Shares of Atlassian Co. (NASDAQ:TEAM)

Xponance Inc. grew its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,986 shares of the technology company’s stock after acquiring an additional 2,169 shares during the quarter. Xponance Inc.’s holdings in Atlassian were worth $7,298,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Leelyn Smith LLC lifted its position in Atlassian by 6.0% in the 4th quarter. Leelyn Smith LLC now owns 8,447 shares of the technology company’s stock worth $2,056,000 after buying an additional 481 shares during the last quarter. Wealth Architects LLC bought a new stake in Atlassian in the 4th quarter worth approximately $260,000. Counterpoint Mutual Funds LLC bought a new stake in Atlassian in the 4th quarter worth approximately $708,000. Parallel Advisors LLC lifted its position in Atlassian by 3.9% in the 4th quarter. Parallel Advisors LLC now owns 1,702 shares of the technology company’s stock worth $414,000 after buying an additional 64 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Atlassian by 9.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,022 shares of the technology company’s stock worth $2,439,000 after buying an additional 865 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the subject of a number of recent research reports. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. KeyCorp boosted their price objective on Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group boosted their price objective on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Canaccord Genuity Group boosted their price objective on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Stephens assumed coverage on Atlassian in a research report on Wednesday. They issued an “equal weight” rating and a $255.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $316.77.

Atlassian Price Performance

Shares of TEAM stock opened at $229.86 on Thursday. The stock has a market cap of $60.22 billion, a price-to-earnings ratio of -171.54 and a beta of 0.91. The business’s fifty day moving average is $271.91 and its 200 day moving average is $235.42. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. Research analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $216.90, for a total value of $1,723,921.20. Following the sale, the chief executive officer now directly owns 71,532 shares of the company’s stock, valued at approximately $15,515,290.80. This represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 1,723 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total value of $526,962.32. Following the completion of the sale, the president now directly owns 199,934 shares in the company, valued at approximately $61,147,814.56. This represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 264,553 shares of company stock valued at $71,627,261. Insiders own 38.55% of the company’s stock.

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.