Caprock Group LLC Takes Position in Atlassian Co. (NASDAQ:TEAM)

Caprock Group LLC bought a new position in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 933 shares of the technology company’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEAM. GAMMA Investing LLC raised its holdings in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the period. True Wealth Design LLC raised 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 buying an additional 231 shares during the period. Reston Wealth Management LLC acquired a new position in Atlassian during the third quarter valued at approximately $48,000. Brown Brothers Harriman & Co. grew its stake in Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after buying an additional 82 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Atlassian in the third quarter worth $103,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Activity at Atlassian

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the transaction, the chief executive officer now owns 429,192 shares of the company’s stock, valued at approximately $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Gene Liu sold 165 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the transaction, the chief accounting officer now owns 56,423 shares of the company’s stock, valued at $13,871,030.32. This represents a 0.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 257,490 shares of company stock valued at $67,515,307 in the last quarter. Insiders own 38.55% of the company’s stock.

Atlassian Price Performance

Shares of TEAM opened at $319.00 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a market cap of $83.08 billion, a price-to-earnings ratio of -238.06 and a beta of 0.87. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $324.37. The stock has a 50 day moving average of $263.77 and a 200-day moving average of $211.16.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 18.00% and a negative net margin of 7.22%. As a group, analysts forecast that Atlassian Co. will post -0.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TEAM. Cantor Fitzgerald upped their price target on shares of Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. KeyCorp upped their target price on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group raised their target price on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company upped their price target on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Robert W. Baird lifted their price objective on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Eight 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $318.43.

Atlassian Company 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.