GAMMA Investing LLC Acquires 54 Shares of Atlassian Co. (NASDAQ:TEAM)

GAMMA Investing LLC grew its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 22.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 290 shares of the technology company’s stock after purchasing an additional 54 shares during the period. GAMMA Investing LLC’s holdings in Atlassian were worth $71,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Baillie Gifford & Co. grew its holdings in Atlassian by 0.9% during the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after buying an additional 78,454 shares in the last quarter. State Street Corp grew its stake in shares of Atlassian by 0.3% in the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after acquiring an additional 8,957 shares in the last quarter. Dragoneer Investment Group LLC purchased a new stake in shares of Atlassian in the second quarter valued at about $469,803,000. JPMorgan Chase & Co. lifted its position in shares of Atlassian by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after purchasing an additional 131,621 shares in the last quarter. Finally, FMR LLC boosted its holdings in Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after purchasing an additional 150,237 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the transaction, the president now owns 211,991 shares of the company’s stock, valued at $54,006,827.16. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $243.35, for a total transaction of $1,934,145.80. Following the sale, the chief executive officer now owns 445,088 shares in the company, valued at approximately $108,312,164.80. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,480 shares of company stock worth $62,377,979 in the last three months. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Down 0.9 %

TEAM stock opened at $242.39 on Friday. The stock has a 50-day simple moving average of $254.33 and a two-hundred day simple moving average of $199.59. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97. The firm has a market capitalization of $63.13 billion, a PE ratio of -159.47 and a beta of 0.83. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.07) earnings per share. On average, equities analysts predict that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TEAM shares. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $255.00 to $292.00 in a research note on Friday. Truist Financial raised Atlassian from a “hold” rating to a “buy” rating and increased their price target for the company from $250.00 to $300.00 in a research report on Tuesday, January 7th. Macquarie assumed coverage on Atlassian in a research report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price objective on the stock. KeyCorp lifted their target price on Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Morgan Stanley boosted their price target on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $266.10.

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.