NZS Capital LLC Invests $24.68 Million in Atlassian Co. (NASDAQ:TEAM)

NZS Capital LLC purchased a new position in Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 101,403 shares of the technology company's stock, valued at approximately $24,679,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TEAM. Virtu Financial LLC bought a new position in Atlassian during the third quarter valued at approximately $606,000. Fulton Bank N.A. bought a new position in shares of Atlassian during the 4th quarter valued at approximately $447,000. Allworth Financial LP grew its holdings in shares of Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after purchasing an additional 47 shares in the last quarter. Nordea Investment Management AB increased its position in Atlassian by 20.1% in the fourth quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company's stock worth $7,458,000 after purchasing an additional 5,088 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Atlassian by 61.4% during the third quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company's stock valued at $1,710,000 after purchasing an additional 4,099 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Atlassian Stock Down 7.1 %

Shares of TEAM stock traded down $16.26 on Friday, hitting $212.81. The stock had a trading volume of 6,181,743 shares, compared to its average volume of 2,067,893. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The business has a 50 day moving average price of $224.12 and a 200 day moving average price of $244.94. The company has a market cap of $55.76 billion, a PE ratio of -158.69 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm 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 revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 EPS. Research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In related news, CAO Gene Liu sold 568 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the sale, the chief accounting officer now owns 52,142 shares of the company's stock, valued at $16,272,475.36. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $311.20, for a total transaction of $2,473,417.60. Following the completion of the transaction, the chief executive officer now directly owns 309,972 shares in the company, valued at $96,463,286.40. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 260,734 shares of company stock valued at $64,629,600. 38.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TEAM has been the topic of a number of research reports. Citigroup boosted their target price on shares of Atlassian from $255.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and lowered their price objective for the company from $304.00 to $272.00 in a research note on Wednesday, April 2nd. StockNews.com downgraded Atlassian from a "buy" rating to a "hold" rating in a research report on Monday, March 31st. Piper Sandler restated an "overweight" rating and issued a $300.00 price target (down from $365.00) on shares of Atlassian in a research report on Friday. Finally, The Goldman Sachs Group boosted their price objective on shares of Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $290.29.

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.