Atlassian Co. (NASDAQ:TEAM) Shares Bought by Choreo LLC

Choreo LLC raised its position in Atlassian Co. (NASDAQ:TEAM) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,764 shares of the technology company’s stock after purchasing an additional 180 shares during the quarter. Choreo LLC’s holdings in Atlassian were worth $2,085,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Atlassian by 12.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock valued at $14,763,000 after purchasing an additional 8,073 shares during the period. Arkadios Wealth Advisors acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $202,000. American Century Companies Inc. increased its stake in shares of Atlassian by 58.7% in the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after purchasing an additional 159,102 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $13,805,000. Finally, Royal Bank of Canada increased its stake in shares of Atlassian by 17.3% in the third quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock valued at $76,862,000 after purchasing an additional 56,149 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TEAM shares. KeyCorp started coverage on shares of Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating on the stock. Piper Sandler lowered their price objective on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday. Oppenheimer lowered their price objective on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday. Mizuho lowered their price objective on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $235.00 to $275.00 in a research note on Thursday, April 11th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and an average price target of $223.22.

Atlassian Trading Down 1.3 %

Atlassian stock opened at $177.07 on Tuesday. The company has a 50 day moving average price of $199.36 and a 200 day moving average price of $206.52. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $45.93 billion, a price-to-earnings ratio of -281.06 and a beta of 0.63.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 15.54%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the business posted ($0.40) EPS. The company’s revenue was up 29.9% on a year-over-year basis. Research analysts forecast that Atlassian Co. will post -0.42 EPS for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $251.76, for a total transaction of $2,074,754.16. Following the completion of the sale, the chief executive officer now owns 329,640 shares of the company’s stock, valued at approximately $82,990,166.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 872 shares of Atlassian stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $185,622.64. Following the completion of the sale, the chief technology officer now owns 142,103 shares of the company’s stock, valued at approximately $30,249,465.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $251.76, for a total transaction of $2,074,754.16. Following the sale, the chief executive officer now directly owns 329,640 shares of the company’s stock, valued at approximately $82,990,166.40. The disclosure for this sale can be found here. Insiders sold 300,450 shares of company stock valued at $61,106,939 in the last quarter. Company insiders own 40.48% of the company’s stock.

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.