Diversified Trust Co Increases Stock Position in Atlassian Co. (NASDAQ:TEAM)

Diversified Trust Co lifted its position in Atlassian Co. (NASDAQ:TEAM) by 23.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,881 shares of the technology company’s stock after buying an additional 2,799 shares during the quarter. Diversified Trust Co’s holdings in Atlassian were worth $3,622,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Baillie Gifford & Co. increased its holdings in shares of Atlassian by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after acquiring an additional 78,454 shares during the period. State Street Corp raised its holdings in Atlassian by 0.3% in the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after acquiring an additional 8,957 shares during the last quarter. Dragoneer Investment Group LLC acquired a new stake in Atlassian in the 2nd quarter worth about $469,803,000. JPMorgan Chase & Co. grew its stake in shares of Atlassian by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after buying an additional 131,621 shares during the period. Finally, FMR LLC lifted its stake in shares of Atlassian by 7.4% in the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after purchasing an additional 150,237 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Raymond James lifted their price objective on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial raised Atlassian from a “hold” rating to a “buy” rating and boosted their target price for the stock from $250.00 to $300.00 in a research report on Tuesday. Macquarie initiated coverage on shares of Atlassian in a research note on Thursday, December 12th. They set a “neutral” rating and a $290.00 target price on the stock. UBS Group increased their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley raised their price target on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.25.

Atlassian Trading Down 2.7 %

TEAM stock opened at $247.85 on Wednesday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $287.97. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The business’s 50 day moving average is $250.65 and its 200-day moving average is $197.58. The firm has a market cap of $64.55 billion, a P/E ratio of -163.06 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company posted ($0.07) earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. Equities analysts anticipate that Atlassian Co. will post -0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $187.54, for a total value of $1,490,567.92. Following the completion of the sale, the chief executive officer now owns 437,140 shares in the company, valued at $81,981,235.60. This represents a 1.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Gene Liu sold 165 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the sale, the chief accounting officer now directly owns 56,423 shares of the company’s stock, valued at $13,871,030.32. This represents a 0.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 269,402 shares of company stock valued at $63,056,206. 38.55% of the stock is currently owned by insiders.

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.