160 Shares in Atlassian Co. (NASDAQ:TEAM) Bought by Pilgrim Partners Asia Pte Ltd

Pilgrim Partners Asia Pte Ltd acquired a new stake in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, HoldingsChannel reports. The fund acquired 160 shares of the technology company’s stock, valued at approximately $39,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Resona Asset Management Co. Ltd. purchased a new stake in shares of Atlassian in the fourth quarter valued at $11,516,000. Wells Fargo & Company MN grew its holdings in shares of Atlassian by 12.1% during the fourth quarter. Wells Fargo & Company MN now owns 114,909 shares of the technology company’s stock worth $27,967,000 after buying an additional 12,426 shares in the last quarter. Prudential PLC lifted its stake in shares of Atlassian by 40.9% during the fourth quarter. Prudential PLC now owns 8,996 shares of the technology company’s stock valued at $2,189,000 after buying an additional 2,612 shares during the period. Thoroughbred Financial Services LLC boosted its position in Atlassian by 42.9% during the fourth quarter. Thoroughbred Financial Services LLC now owns 2,423 shares of the technology company’s stock worth $589,000 after acquiring an additional 728 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in Atlassian in the 4th quarter valued at $12,478,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

TEAM opened at $187.67 on Friday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The company has a market capitalization of $49.17 billion, a price-to-earnings ratio of -140.05 and a beta of 1.07. The firm’s fifty day moving average price is $264.05 and its two-hundred day moving average price is $239.57. 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 announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. As a group, analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TEAM. The Goldman Sachs Group upped their price target on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their price objective on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Truist Financial decreased their target price on shares of Atlassian from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, March 31st. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Piper Sandler upped their price objective on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average price target of $308.73.

Insiders Place Their Bets

In other news, CAO Gene Liu sold 779 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the sale, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at $16,867,727.10. The trade was a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $253.01, for a total value of $2,010,923.48. Following the completion of the sale, the director now directly owns 389,452 shares in the company, valued at approximately $98,535,250.52. This represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 270,981 shares of company stock valued at $71,914,254 over the last three months. Insiders own 38.55% of the company’s stock.

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.