Peregrine Asset Advisers Inc. Purchases New Position in Atlassian Co. (NASDAQ:TEAM)

Peregrine Asset Advisers Inc. acquired a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,309 shares of the technology company's stock, valued at approximately $1,976,000.

Other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Atlassian during the third quarter worth $26,000. Carmel Capital Partners LLC increased its stake in Atlassian by 28.5% in the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company's stock valued at $52,000 after acquiring an additional 57 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its position in Atlassian by 271.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company's stock worth $88,000 after purchasing an additional 271 shares in the last quarter. Operose Advisors LLC bought a new position in Atlassian during the third quarter worth about $99,000. Finally, GAMMA Investing LLC acquired a new stake in Atlassian during the fourth quarter valued at approximately $107,000. 93.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TEAM shares. Truist Financial decreased their price target on shares of Atlassian from $220.00 to $200.00 and set a "hold" rating on the stock in a research note on Friday, April 26th. TD Cowen lowered their target price on Atlassian from $220.00 to $210.00 and set a "hold" rating for the company in a research note on Friday, April 26th. StockNews.com raised Atlassian from a "hold" rating to a "buy" rating in a research note on Monday, April 29th. KeyCorp began coverage on Atlassian in a research report on Tuesday, March 19th. They issued a "sector weight" rating for the company. Finally, Oppenheimer cut their target price on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, April 26th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $223.22.

Atlassian Price Performance

NASDAQ:TEAM traded down $1.75 on Monday, hitting $181.77. The company had a trading volume of 1,468,305 shares, compared to its average volume of 1,768,715. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69. The stock has a market capitalization of $47.31 billion, a price-to-earnings ratio of -288.52 and a beta of 0.67. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average of $196.77 and a two-hundred day moving average of $205.99.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company earned ($0.40) EPS. Atlassian's revenue for the quarter was up 29.9% compared to the same quarter last year. On average, research analysts anticipate that Atlassian Co. will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Scott Farquhar sold 8,241 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $218.32, for a total transaction of $1,799,175.12. Following the completion of the sale, the chief executive officer now owns 263,712 shares in the company, valued at $57,573,603.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $218.32, for a total transaction of $1,799,175.12. Following the completion of the transaction, the chief executive officer now owns 263,712 shares in the company, valued at approximately $57,573,603.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gene Liu sold 582 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $215.00, for a total value of $125,130.00. Following the completion of the sale, the chief accounting officer now directly owns 45,865 shares of the company's stock, valued at $9,860,975. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 308,691 shares of company stock worth $61,623,156. 40.48% of the stock is currently owned by company insiders.

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.

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