Retireful LLC Makes New Investment in Atlassian Co. (NASDAQ:TEAM)

Retireful LLC bought a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,896 shares of the technology company's stock, valued at approximately $1,067,000.

Other institutional investors also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp acquired a new stake in Atlassian in the fourth quarter valued at approximately $27,000. Colonial Trust Co SC lifted its stake 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 buying an additional 69 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Atlassian during the fourth quarter worth $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Atlassian during the fourth quarter worth $39,000. Finally, Avion Wealth lifted its stake 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 buying 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 have recently commented on TEAM. Morgan Stanley lowered their price objective 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. Piper Sandler reiterated an "overweight" rating and set a $300.00 price objective (down from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. BMO Capital Markets lowered their price objective on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Macquarie lowered their price objective on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Four analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $285.29.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 7,674 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total value of $1,730,563.74. Following the sale, the president now directly owns 192,260 shares of the company's stock, valued at approximately $43,356,552.60. The trade was a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Brian Duffy sold 2,252 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $210.00, for a total transaction of $472,920.00. Following the completion of the sale, the executive now directly owns 73,360 shares in the company, valued at $15,405,600. This trade represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 321,099 shares of company stock worth $68,581,564. 38.55% of the stock is owned by insiders.

Atlassian Stock Performance

TEAM traded up $7.68 on Thursday, reaching $218.60. The stock had a trading volume of 2,678,868 shares, compared to its average volume of 2,099,952. The company has a market cap of $57.38 billion, a P/E ratio of -163.13 and a beta of 1.06. The business's 50-day moving average price is $209.84 and its two-hundred day moving average price is $244.92. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results 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 business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The company's quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 earnings per share. Sell-side analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

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.