Atlassian Co. (NASDAQ:TEAM) Stock Holdings Lifted by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. raised its position in shares of Atlassian Co. (NASDAQ:TEAM) by 40.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,845 shares of the technology company’s stock after purchasing an additional 815 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Atlassian were worth $692,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TEAM. Virtu Financial LLC acquired a new position in shares of Atlassian in the third quarter worth $606,000. Fulton Bank N.A. bought a new stake in Atlassian during the fourth quarter valued at about $447,000. Paloma Partners Management Co acquired a new position in shares of Atlassian during the third quarter valued at about $1,588,000. Allworth Financial LP raised its position in shares of Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after buying an additional 47 shares during the last quarter. Finally, Parnassus Investments LLC raised its position in shares of Atlassian by 322.9% during the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after buying an additional 245,286 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Atlassian news, CEO Michael Cannon-Brookes sold 15,896 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the transaction, the chief executive officer now owns 429,192 shares in the company, valued at $104,529,711.60. This represents a 3.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $269.35, for a total transaction of $2,140,793.80. Following the transaction, the director now owns 111,272 shares in the company, valued at approximately $29,971,113.20. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 272,501 shares of company stock valued at $74,977,422. 38.55% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on TEAM. Piper Sandler increased their price target on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Oppenheimer increased their price target on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. The Goldman Sachs Group increased their price target on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Raymond James reaffirmed an “outperform” rating and issued a $330.00 price objective (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Stock Down 4.7 %

Shares of TEAM stock opened at $238.86 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The firm’s fifty day moving average price is $276.11 and its two-hundred day moving average price is $232.17. The firm has a market capitalization of $62.58 billion, a P/E ratio of -178.25 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, equities analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

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.