Bailard Inc. Purchases 12,631 Shares of Atlassian Co. (NASDAQ:TEAM)

Bailard Inc. increased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 347.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,269 shares of the technology company’s stock after acquiring an additional 12,631 shares during the period. Bailard Inc.’s holdings in Atlassian were worth $3,960,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its position in shares of Atlassian by 760.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after acquiring an additional 617,566 shares during the period. Two Sigma Advisers LP grew its stake in Atlassian by 122.0% in the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after buying an additional 551,500 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in Atlassian in the 3rd quarter worth approximately $57,149,000. Parnassus Investments LLC lifted its holdings in shares of Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after acquiring an additional 245,286 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Atlassian by 12,047.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock valued at $55,521,000 after acquiring an additional 226,246 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TEAM has been the subject of several research analyst reports. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Piper Sandler upped their price target on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Macquarie lifted their price objective on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Mizuho increased their price target on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, Oppenheimer boosted their price target on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $236.89, for a total value of $1,882,801.72. Following the completion of the transaction, the chief executive officer now directly owns 421,244 shares of the company’s stock, valued at $99,788,491.16. This represents a 1.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Heather Mirjahangir Fernandez sold 3,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $275.00, for a total value of $825,000.00. Following the transaction, the director now directly owns 5,610 shares in the company, valued at $1,542,750. This trade represents a 34.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,553 shares of company stock worth $73,739,837. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Price Performance

Atlassian stock opened at $284.26 on Monday. 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 firm has a market capitalization of $74.48 billion, a P/E ratio of -212.13 and a beta of 0.87. The firm has a fifty day moving average of $275.25 and a 200-day moving average of $228.30. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM) last posted 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%. As a group, analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

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.