NEOS Investment Management LLC Purchases 1,615 Shares of Atlassian Co. (NASDAQ:TEAM)

NEOS Investment Management LLC boosted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 17.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,699 shares of the technology company’s stock after acquiring an additional 1,615 shares during the period. NEOS Investment Management LLC’s holdings in Atlassian were worth $2,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Corebridge Financial Inc. lifted its position in shares of Atlassian by 0.3% in the 4th quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company’s stock worth $2,555,000 after purchasing an additional 35 shares during the period. Assetmark Inc. lifted its holdings in Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after buying an additional 41 shares during the period. Allworth Financial LP boosted its position in Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after acquiring an additional 47 shares in the last quarter. GAMMA Investing LLC boosted its position in Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after acquiring an additional 54 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Atlassian by 4.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock valued at $357,000 after acquiring an additional 56 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Activity at Atlassian

In other news, CAO Gene Liu sold 568 shares of Atlassian stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $312.08, for a total value of $177,261.44. Following the sale, the chief accounting officer now owns 52,142 shares in the company, valued at $16,272,475.36. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $246.97, for a total transaction of $1,962,917.56. Following the transaction, the chief executive officer now owns 7,948 shares of the company’s stock, valued at approximately $1,962,917.56. This trade represents a 50.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock worth $70,644,164 in the last 90 days. Corporate insiders own 38.55% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $217.99 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $57.11 billion, a price-to-earnings ratio of -162.68 and a beta of 0.91. The firm’s 50 day simple moving average is $269.28 and its 200-day simple moving average is $238.07. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. Analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TEAM shares. The Goldman Sachs Group raised their price objective on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Canaccord Genuity Group raised their price target on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. Citigroup boosted their price objective on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Cantor Fitzgerald raised their target price on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $316.77.

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.