Blue Trust Inc. Boosts Stock Position in Atlassian Co. (NASDAQ:TEAM)

Blue Trust Inc. boosted its holdings in Atlassian Co. (NASDAQ:TEAM) by 20.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 811 shares of the technology company’s stock after acquiring an additional 140 shares during the quarter. Blue Trust Inc.’s holdings in Atlassian were worth $197,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Baillie Gifford & Co. boosted its stake in shares of Atlassian by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after acquiring an additional 78,454 shares during the last quarter. State Street Corp grew its stake in Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after acquiring an additional 8,957 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after buying an additional 131,621 shares in the last quarter. FMR LLC boosted its position in shares of Atlassian by 7.4% during the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after acquiring an additional 150,237 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Atlassian by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock worth $340,453,000 after buying an additional 57,911 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Trading Up 1.7 %

Shares of TEAM opened at $316.73 on Wednesday. The firm’s fifty day moving average is $262.61 and its two-hundred day moving average is $210.38. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a market cap of $82.49 billion, a PE ratio of -236.36 and a beta of 0.87. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $324.37.

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 18.00%. Research analysts forecast that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $237.04, for a total value of $1,883,993.92. Following the sale, the director now directly owns 278,180 shares in the company, valued at approximately $65,939,787.20. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Gene Liu sold 165 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total value of $40,563.60. Following the sale, the chief accounting officer now directly owns 56,423 shares in the company, valued at $13,871,030.32. This trade represents a 0.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 257,935 shares of company stock worth $66,966,954. Company insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the topic of several recent analyst reports. Truist Financial reissued a “buy” rating and issued a $350.00 target price (up previously from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Barclays lifted their price target on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a report on Monday. Scotiabank increased their price objective on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Oppenheimer raised their price target on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Piper Sandler raised their price target on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $318.43.

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.