First Citizens Bank & Trust Co. Buys New Position in Atlassian Co. (NASDAQ:TEAM)

First Citizens Bank & Trust Co. purchased a new position in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 1,138 shares of the technology company’s stock, valued at approximately $277,000.

A number of other large investors also recently modified their holdings of the business. Juncture Wealth Strategies LLC acquired a new stake in Atlassian during the fourth quarter worth about $237,000. B.O.S.S. Retirement Advisors LLC acquired a new stake in shares of Atlassian during the 4th quarter worth approximately $1,222,000. Linden Thomas Advisory Services LLC increased its position in shares of Atlassian by 7.7% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 9,141 shares of the technology company’s stock valued at $2,225,000 after purchasing an additional 650 shares during the period. Donoghue Forlines LLC lifted its position in Atlassian by 176.0% in the fourth quarter. Donoghue Forlines LLC now owns 7,779 shares of the technology company’s stock worth $1,893,000 after purchasing an additional 4,961 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in Atlassian by 66.8% during the fourth quarter. Avior Wealth Management LLC now owns 507 shares of the technology company’s stock worth $123,000 after buying an additional 203 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Performance

Shares of Atlassian stock opened at $274.71 on Wednesday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $71.54 billion, a price-to-earnings ratio of -180.73 and a beta of 0.83. The firm has a fifty day moving average of $258.81 and a two-hundred day moving average of $206.31.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. As a group, equities research analysts predict that Atlassian Co. will post -0.55 EPS for the current year.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $269.01, for a total value of $2,138,091.48. Following the completion of the transaction, the chief executive officer now directly owns 349,712 shares in the company, valued at approximately $94,076,025.12. The trade was a 2.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 1,024 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $230,860.80. Following the sale, the chief accounting officer now directly owns 59,168 shares of the company’s stock, valued at approximately $13,339,425.60. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 264,240 shares of company stock worth $66,529,872. 38.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TEAM has been the subject of a number of recent research reports. Oppenheimer increased their price objective on shares of Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. KeyCorp raised their price target on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Robert W. Baird increased their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Truist Financial raised Atlassian from a “hold” rating to a “buy” rating and boosted their price target for the company from $250.00 to $300.00 in a research note on Tuesday, January 7th. Finally, UBS Group increased their price objective on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $273.19.

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.