Westpac Banking Corp Purchases 897 Shares of Atlassian Co. (NASDAQ:TEAM)

Westpac Banking Corp grew its position in Atlassian Co. (NASDAQ:TEAM) by 14.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,157 shares of the technology company’s stock after acquiring an additional 897 shares during the period. Westpac Banking Corp’s holdings in Atlassian were worth $1,742,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new position in Atlassian in the fourth quarter valued at about $27,000. Summit Securities Group LLC bought a new position in shares of Atlassian during the 4th quarter valued at about $38,000. Avion Wealth grew its position in shares of Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares during the period. Assetmark Inc. increased its stake 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. Finally, Mainstream Capital Management LLC acquired a new stake in Atlassian during the 4th quarter worth approximately $49,000. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

TEAM has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. 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 research note on Friday, December 20th. Wells Fargo & Company lifted their price target on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Morgan Stanley lifted their target price on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and an average price target of $308.73.

Atlassian Trading Down 11.4 %

Atlassian stock opened at $198.35 on Friday. 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 simple moving average of $265.59 and a 200 day simple moving average of $239.42. The stock has a market capitalization of $51.97 billion, a P/E ratio of -148.02 and a beta of 1.07. Atlassian Co. has a 52 week low of $135.29 and a 52 week 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 the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares of the company’s stock, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $254.95, for a total transaction of $2,026,342.60. Following the completion of the transaction, the chief executive officer now directly owns 460,984 shares in the company, valued at approximately $117,527,870.80. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 270,981 shares of company stock worth $71,914,254 over the last ninety days. Insiders own 38.55% of the company’s stock.

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.