Ensign Peak Advisors Inc Acquires 175,934 Shares of Atlassian Co. (NASDAQ:TEAM)

Ensign Peak Advisors Inc grew its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 167.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280,824 shares of the technology company's stock after buying an additional 175,934 shares during the quarter. Ensign Peak Advisors Inc owned approximately 0.11% of Atlassian worth $68,347,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Atlassian during the fourth quarter worth approximately $27,000. Colonial Trust Co SC boosted its holdings in shares of Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Atlassian during the fourth quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Atlassian during the fourth quarter worth approximately $39,000. Finally, Avion Wealth boosted its holdings in shares of Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after purchasing an additional 157 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on TEAM. KeyCorp decreased their price target on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Barclays decreased their price target on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Jefferies Financial Group decreased their price target on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a report on Monday, April 7th. Piper Sandler reiterated an "overweight" rating and issued a $300.00 target price (down from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. Finally, Morgan Stanley reduced their target price on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $285.29.

Atlassian Stock Performance

TEAM stock traded up $16.23 on Monday, reaching $223.75. 2,413,663 shares of the company were exchanged, compared to its average volume of 2,089,641. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The stock's fifty day moving average price is $214.30 and its 200 day moving average price is $246.65. The firm has a market capitalization of $58.62 billion, a PE ratio of -166.98 and a beta of 1.06. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Atlassian's revenue was up 14.1% compared to the same quarter last year. On average, research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 1,723 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total value of $526,962.32. Following the sale, the president now owns 199,934 shares of the company's stock, valued at $61,147,814.56. The trade was a 0.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $185.61, for a total transaction of $1,475,228.28. Following the completion of the sale, the director now directly owns 333,816 shares in the company, valued at $61,959,587.76. This trade represents a 2.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 252,786 shares of company stock valued at $59,536,362. 38.55% of the stock is owned by company insiders.

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.