AlTi Global Inc. Takes $477,000 Position in Atlassian Co. (NASDAQ:TEAM)

AlTi Global Inc. bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,892 shares of the technology company's stock, valued at approximately $477,000.

Several other institutional investors have also recently added to or reduced their stakes in TEAM. Wilmington Savings Fund Society FSB raised its holdings in shares of Atlassian by 59.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 2,901 shares of the technology company's stock valued at $461,000 after buying an additional 1,081 shares during the last quarter. Tidal Investments LLC raised its stake in Atlassian by 143.2% during the 3rd quarter. Tidal Investments LLC now owns 12,605 shares of the technology company's stock valued at $2,002,000 after acquiring an additional 7,422 shares in the last quarter. Principal Financial Group Inc. raised its stake in Atlassian by 61.4% during the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company's stock valued at $1,710,000 after acquiring an additional 4,099 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock worth $393,588,000 after purchasing an additional 131,621 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Atlassian by 22.9% during the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock valued at $71,000 after purchasing an additional 54 shares during the period. Institutional investors own 94.45% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TEAM. UBS Group reduced their price objective on shares of Atlassian from $230.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Mizuho raised their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Wells Fargo & Company cut their target price on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Finally, BMO Capital Markets decreased their target price on Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $285.29.

Insider Buying and Selling at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $315.69, for a total transaction of $2,509,104.12. Following the sale, the director now directly owns 278,180 shares of the company's stock, valued at approximately $87,818,644.20. The trade was a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.58, for a total value of $475,121.60. Following the completion of the transaction, the president now directly owns 201,657 shares of the company's stock, valued at approximately $63,033,945.06. The trade was a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 260,734 shares of company stock valued at $62,944,544 in the last 90 days. 38.55% of the stock is currently owned by company insiders.

Atlassian Stock Performance

NASDAQ:TEAM traded down $2.18 during trading hours on Wednesday, hitting $205.71. 2,203,106 shares of the company traded hands, compared to its average volume of 2,078,968. The firm has a 50-day moving average of $219.57 and a 200 day moving average of $245.69. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $53.90 billion, a price-to-earnings ratio of -153.51 and a beta of 1.06.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The company's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $0.89 EPS. On average, analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

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.