Advisory Services Network LLC Boosts Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Advisory Services Network LLC grew its holdings in Atlassian Co. (NASDAQ:TEAM) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,555 shares of the technology company’s stock after purchasing an additional 625 shares during the period. Advisory Services Network LLC’s holdings in Atlassian were worth $2,082,000 at the end of the most recent quarter.

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

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $195.56, for a total transaction of $1,554,310.88. Following the transaction, the chief executive officer now directly owns 317,920 shares of the company’s stock, valued at approximately $62,172,435.20. The trade was a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph Leo Binz sold 2,587 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.09, for a total value of $807,376.83. Following the completion of the sale, the chief financial officer now directly owns 169,342 shares of the company’s stock, valued at $52,849,944.78. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 263,033 shares of company stock worth $68,608,284. Company insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

Shares of TEAM stock opened at $198.37 on Friday. The company has a market capitalization of $51.97 billion, a P/E ratio of -148.04 and a beta of 1.07. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50 day moving average price of $251.13 and a two-hundred day moving average price of $241.25.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate 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 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TEAM shares. Canaccord Genuity Group upped their target price on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Stephens initiated coverage on Atlassian in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $255.00 price objective on the stock. Mizuho lifted their price objective on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Morgan Stanley upped their target price on Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, BMO Capital Markets dropped their price target on Atlassian from $360.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday. Eight analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $297.50.

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.