Retireful LLC Acquires Shares of 4,896 Atlassian Co. (NASDAQ:TEAM)

Retireful LLC acquired a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,896 shares of the technology company's stock, valued at approximately $1,067,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TEAM. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Atlassian during the 4th quarter worth approximately $27,000. Colonial Trust Co SC grew its position in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after buying an additional 69 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Atlassian during the 4th quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Atlassian during the 4th quarter worth approximately $39,000. Finally, Avion Wealth grew its position in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after buying an additional 157 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Price Performance

Shares of NASDAQ TEAM traded down $4.09 during midday trading on Friday, hitting $214.51. 1,579,559 shares of the company's stock were exchanged, compared to its average volume of 2,103,656. Atlassian Co. has a 12-month low of $135.29 and a 12-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 company has a market cap of $56.31 billion, a price-to-earnings ratio of -160.08 and a beta of 0.96. The business's fifty day moving average price is $209.80 and its two-hundred day moving average price is $244.62.

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

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $216.09, for a total value of $1,717,483.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 7,674 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $1,730,563.74. Following the completion of the sale, the president now owns 192,260 shares of the company's stock, valued at $43,356,552.60. The trade was a 3.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 336,995 shares of company stock worth $72,016,530 in the last quarter. 38.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TEAM has been the subject of several recent analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $300.00 price objective (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Wells Fargo & Company reduced their price objective on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. UBS Group cut their target price on Atlassian from $230.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, KeyCorp cut their target price on Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $285.29.

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.