Xponance Inc. Acquires 2,169 Shares of Atlassian Co. (NASDAQ:TEAM)

Xponance Inc. increased its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,986 shares of the technology company’s stock after purchasing an additional 2,169 shares during the quarter. Xponance Inc.’s holdings in Atlassian were worth $7,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of TEAM. True Wealth Design LLC lifted its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares during the period. Avion Wealth lifted its holdings in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after acquiring an additional 157 shares during the period. Assetmark Inc. increased its position in Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after buying an additional 41 shares in the last quarter. Mainstream Capital Management LLC purchased a new stake in Atlassian in the fourth quarter worth about $49,000. Finally, Kestra Investment Management LLC purchased a new stake in Atlassian in the fourth quarter worth about $56,000. Institutional investors own 94.45% of the company’s stock.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 15,896 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the sale, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at approximately $104,529,711.60. This trade represents a 3.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the sale, the president now directly owns 210,471 shares of the company’s stock, valued at $54,690,889.35. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 264,553 shares of company stock valued at $71,627,261 in the last ninety days. Insiders own 38.55% of the company’s stock.

Atlassian Price Performance

NASDAQ:TEAM opened at $229.86 on Thursday. The firm has a market capitalization of $60.22 billion, a price-to-earnings ratio of -171.54 and a beta of 0.91. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The business has a 50 day simple moving average of $271.91 and a 200-day simple moving average of $235.42. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Equities analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on TEAM shares. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Cantor Fitzgerald upped their price target on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Raymond James restated an “outperform” rating and issued a $330.00 price target (up previously from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Jefferies Financial Group upped their price target on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, Canaccord Genuity Group increased their target price on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $316.77.

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.