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:TEAM) 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.

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:TEAM) 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

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.