Cornercap Investment Counsel Inc. Has $1.73 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Cornercap Investment Counsel Inc. cut its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 16.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,104 shares of the technology company’s stock after selling 1,449 shares during the period. Atlassian comprises approximately 0.6% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 23rd largest holding. Cornercap Investment Counsel Inc.’s holdings in Atlassian were worth $1,729,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian in the fourth quarter valued at about $27,000. True Wealth Design LLC raised its stake in shares of Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares during the last quarter. Avion Wealth grew its stake in shares of Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after purchasing an additional 41 shares in the last quarter. Finally, Mainstream Capital Management LLC bought a new position in Atlassian in the 4th quarter worth approximately $49,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. The Goldman Sachs Group increased 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. Stephens assumed coverage on Atlassian in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $255.00 price objective for the company. Piper Sandler upped their target price on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Canaccord Genuity Group lifted their price target on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, JMP Securities restated a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $316.77.

Atlassian Trading Down 2.1 %

NASDAQ TEAM opened at $217.99 on Friday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50 day moving average price is $269.28 and its two-hundred day moving average price is $238.07. The stock has a market capitalization of $57.11 billion, a price-to-earnings ratio of -162.68 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. As a group, analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the transaction, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the sale, the president now directly owns 210,471 shares in the company, valued at $54,690,889.35. This trade represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,033 shares of company stock worth $70,644,164 in the last quarter. Corporate insiders own 38.55% of the company’s stock.

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.