Parametrica Management Ltd Acquires New Shares in Atlassian Co. (NASDAQ:TEAM)

Parametrica Management Ltd bought a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 953 shares of the technology company’s stock, valued at approximately $232,000.

A number of other large investors have also recently made changes to their positions in TEAM. Murphy & Mullick Capital Management Corp bought a new position in Atlassian in the 4th quarter worth about $27,000. Prudential Financial Inc. boosted its position in shares of Atlassian by 714.1% in the fourth quarter. Prudential Financial Inc. now owns 40,430 shares of the technology company’s stock valued at $9,705,000 after acquiring an additional 35,464 shares during the period. Sheets Smith Investment Management purchased a new position in Atlassian during the fourth quarter valued at approximately $1,580,000. Corebridge Financial Inc. increased its holdings in Atlassian by 0.3% during the 4th quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company’s stock worth $2,555,000 after acquiring an additional 35 shares during the period. Finally, LPL Financial LLC lifted its stake in Atlassian by 93.4% in the 4th quarter. LPL Financial LLC now owns 51,534 shares of the technology company’s stock worth $12,542,000 after purchasing an additional 24,891 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Atlassian Stock Performance

Atlassian stock opened at $236.22 on Wednesday. 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 firm has a market cap of $61.89 billion, a P/E ratio of -176.28 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 firm has a 50-day moving average of $271.00 and a 200-day moving average of $237.85.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data 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%. Sell-side analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Insiders Place Their Bets

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $234.38, for a total value of $1,862,852.24. Following the completion of the transaction, the director now directly owns 39,740 shares of the company’s stock, valued at approximately $9,314,261.20. The trade was a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $259.85, for a total transaction of $394,972.00. Following the sale, the president now owns 210,471 shares in the company, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 263,033 shares of company stock worth $70,849,302. 38.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Scotiabank boosted their price target on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Citigroup boosted their target price on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Truist Financial reaffirmed a “buy” rating and issued a $350.00 price target (up previously from $300.00) on shares of Atlassian in a report on Friday, January 31st. Piper Sandler boosted their price objective on Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company raised their target price on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $316.77.

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.