abrdn plc Acquires 30,636 Shares of Atlassian Co. (NASDAQ:TEAM)

abrdn plc boosted its holdings in Atlassian Co. (NASDAQ:TEAM) by 120.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,086 shares of the technology company’s stock after acquiring an additional 30,636 shares during the quarter. abrdn plc’s holdings in Atlassian were worth $13,341,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. OFI Invest Asset Management bought a new position in shares of Atlassian during the 3rd quarter worth approximately $26,000. Carmel Capital Partners LLC lifted its position in shares of Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after buying an additional 57 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after buying an additional 271 shares in the last quarter. Operose Advisors LLC bought a new position in shares of Atlassian during the 3rd quarter worth approximately $99,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Atlassian by 33.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 571 shares of the technology company’s stock worth $115,000 after buying an additional 143 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Insider Buying and Selling

In related news, CAO Gene Liu sold 227 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the sale, the chief accounting officer now owns 47,066 shares in the company, valued at $10,018,939.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Gene Liu sold 227 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the sale, the chief accounting officer now owns 47,066 shares in the company, valued at $10,018,939.42. 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 the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $251.76, for a total value of $2,074,754.16. Following the completion of the sale, the chief executive officer now owns 329,640 shares in the company, valued at approximately $82,990,166.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 300,450 shares of company stock worth $61,721,553. Corporate insiders own 40.48% of the company’s stock.

Atlassian Price Performance

Atlassian stock opened at $198.41 on Friday. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69. The business has a fifty day moving average price of $200.55 and a 200-day moving average price of $206.69. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. As a group, equities analysts anticipate that Atlassian Co. will post -0.4 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on TEAM. Citigroup dropped their target price on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Mizuho lowered their price target on shares of Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, April 15th. KeyCorp initiated coverage on Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating for the company. Truist Financial boosted their target price on Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a research note on Tuesday, January 16th. Finally, Wells Fargo & Company upped their price target on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $224.25.

Atlassian Company 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.