University of Texas Texas AM Investment Management Co. Acquires 2,842 Shares of Atlassian Co. (NASDAQ:TEAM)

University of Texas Texas AM Investment Management Co. grew its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 66.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,120 shares of the technology company's stock after purchasing an additional 2,842 shares during the quarter. University of Texas Texas AM Investment Management Co.'s holdings in Atlassian were worth $1,733,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Murphy & Mullick Capital Management Corp acquired a new stake in Atlassian in the fourth quarter valued at $27,000. Colonial Trust Co SC boosted its stake in Atlassian by 100.0% in 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 last quarter. Summit Securities Group LLC acquired a new position in Atlassian during the fourth quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Atlassian in the 4th quarter worth $39,000. Finally, Avion Wealth lifted its stake 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 in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JMP Securities restated a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. Oppenheimer upped their price target on shares of Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. William Blair restated an "outperform" rating on shares of Atlassian in a research report on Friday, January 31st. BMO Capital Markets lowered their target price on Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Macquarie cut their target price on Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $285.29.

Insider Buying and Selling

In related news, CAO Gene Liu sold 121 shares of Atlassian stock in a transaction on Monday, May 19th. The shares were sold at an average price of $214.88, for a total value of $26,000.48. Following the completion of the sale, the chief accounting officer now owns 51,360 shares of the company's stock, valued at approximately $11,036,236.80. The trade was a 0.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Anutthara Bharadwaj sold 7,674 shares of the business's stock in a transaction dated 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 directly owns 192,260 shares of the company's stock, valued at $43,356,552.60. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 287,055 shares of company stock worth $62,452,529. Corporate insiders own 38.55% of the company's stock.

Atlassian Price Performance

Shares of NASDAQ TEAM traded up $2.10 during mid-day trading on Wednesday, reaching $213.18. The company had a trading volume of 698,735 shares, compared to its average volume of 2,108,294. The company has a 50-day moving average price of $212.07 and a two-hundred day moving average price of $246.64. The stock has a market cap of $55.96 billion, a PE ratio of -159.13 and a beta of 1.06. 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 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The company 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 business's revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the company posted $0.89 earnings per share. On average, equities analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

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.