2,908 Shares in Atlassian Co. (NASDAQ:TEAM) Acquired by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC bought a new stake in shares of Atlassian Co. (NASDAQ:TEAMFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,908 shares of the technology company’s stock, valued at approximately $708,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. True Wealth Design LLC grew its holdings in shares of Atlassian by 23,100.0% in the 3rd 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 raised its holdings in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after buying an additional 157 shares during the period. Assetmark Inc. lifted its stake in Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after buying an additional 41 shares in the last quarter. Mainstream Capital Management LLC acquired a new position in shares of Atlassian in the fourth quarter worth about $49,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Atlassian in the fourth quarter worth approximately $56,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the topic of several research analyst reports. Barclays lifted their price objective on shares of Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. JMP Securities reissued a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Wells Fargo & Company raised their price objective on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Jefferies Financial Group lifted their target price on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

View Our Latest Stock Report on Atlassian

Atlassian Stock Up 5.0 %

TEAM stock opened at $218.44 on Monday. The business’s 50-day simple moving average is $273.44 and its 200 day simple moving average is $234.71. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a market cap of $57.23 billion, a PE ratio of -163.01 and a beta of 0.91. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00.

Atlassian (NASDAQ:TEAMGet Free Report) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates 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, research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In other Atlassian news, CAO Gene Liu sold 779 shares of Atlassian stock in a transaction on Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $258.33, for a total transaction of $2,053,206.84. Following the completion of the sale, the director now directly owns 63,584 shares in the company, valued at approximately $16,425,654.72. The trade was a 11.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 264,553 shares of company stock worth $71,956,546 over the last quarter. Company insiders own 38.55% of the company’s stock.

About Atlassian

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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