Polar Capital Holdings Plc Buys Shares of 22,865 Atlassian Co. (NASDAQ:TEAM)

Polar Capital Holdings Plc acquired a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,865 shares of the technology company's stock, valued at approximately $5,565,000.

Several other large investors also recently modified their holdings of TEAM. Allworth Financial LP grew its stake 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 acquiring an additional 47 shares in the last quarter. Slow Capital Inc. grew its stake in shares of Atlassian by 2.9% in the fourth quarter. Slow Capital Inc. now owns 33,879 shares of the technology company's stock valued at $8,245,000 after acquiring an additional 959 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Atlassian by 3,951.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 149,690 shares of the technology company's stock valued at $36,432,000 after acquiring an additional 145,995 shares in the last quarter. SYM FINANCIAL Corp acquired a new position in shares of Atlassian in the fourth quarter valued at about $230,000. Finally, LPL Financial LLC grew its stake in shares of Atlassian by 93.4% in the fourth quarter. LPL Financial LLC now owns 51,534 shares of the technology company's stock valued at $12,542,000 after acquiring an additional 24,891 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

TEAM has been the topic of several research reports. Raymond James restated an "outperform" rating and issued a $300.00 price target (down from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. Barclays decreased their price target on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Mizuho increased their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. William Blair reiterated an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Morgan Stanley reduced their price objective on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Atlassian has an average rating of "Moderate Buy" and an average price target of $285.29.

Atlassian Price Performance

Shares of TEAM stock traded down $0.39 on Wednesday, reaching $214.10. The company had a trading volume of 501,259 shares, compared to its average volume of 2,097,882. The stock has a market capitalization of $56.20 billion, a PE ratio of -159.78 and a beta of 1.06. 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's 50-day moving average is $213.39 and its 200 day moving average is $247.54.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted 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 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 business's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 earnings per share. Equities research analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Activity at Atlassian

In related news, CAO Gene Liu sold 541 shares of the firm'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 $122,000.91. Following the completion of the transaction, the chief accounting officer now owns 51,481 shares in the company, valued at $11,609,480.31. This trade represents a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $214.92, for a total transaction of $1,708,184.16. Following the completion of the transaction, the director now owns 103,324 shares of the company's stock, valued at approximately $22,206,394.08. This trade represents a 7.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 295,003 shares of company stock worth $66,087,944 in the last quarter. 38.55% of the stock is owned by 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.