Granite Group Advisors LLC Makes New $226,000 Investment in Atlassian Co. (NASDAQ:TEAM)

Granite Group Advisors LLC purchased a new stake in shares of Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, Holdings Channel.com reports. The fund purchased 928 shares of the technology company’s stock, valued at approximately $226,000.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the last quarter. True Wealth Design LLC grew its holdings in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares in the last quarter. Reston Wealth Management LLC bought a new stake in Atlassian during the 3rd quarter worth approximately $48,000. Quarry LP increased its holdings in shares of Atlassian by 143.8% in the second quarter. Quarry LP now owns 373 shares of the technology company’s stock worth $66,000 after purchasing an additional 220 shares during the period. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after acquiring an additional 82 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Jefferies Financial Group increased their target price on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Wells Fargo & Company upped their target price on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Truist Financial upgraded shares of Atlassian from a “hold” rating to a “buy” rating and raised their price objective for the stock from $250.00 to $300.00 in a report on Tuesday, January 7th. Finally, Canaccord Genuity Group boosted their target price on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $273.19.

Atlassian Trading Down 0.3 %

TEAM opened at $264.81 on Monday. 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 $257.68 and its two-hundred day moving average is $205.02. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $287.97.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned ($0.07) EPS. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. Sell-side analysts anticipate that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 165 shares of the business’s stock in a transaction dated 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 owns 56,423 shares in the company, valued at approximately $13,871,030.32. The trade was a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $192.56, for a total value of $1,530,466.88. Following the completion of the transaction, the chief executive officer now owns 333,816 shares of the company’s stock, valued at approximately $64,279,608.96. The trade was a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 264,240 shares of company stock worth $65,922,247. Insiders own 38.55% of the company’s stock.

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.