Crossmark Global Holdings Inc. Makes New $262,000 Investment in Atlassian Co. (NASDAQ:TEAM)

Crossmark Global Holdings Inc. acquired a new position in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,076 shares of the technology company’s stock, valued at approximately $262,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Harbor Investment Advisory LLC increased its holdings in Atlassian by 1,878.3% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,187 shares of the technology company’s stock valued at $289,000 after purchasing an additional 1,127 shares during the last quarter. Aaron Wealth Advisors LLC bought a new stake in shares of Atlassian in the fourth quarter worth about $228,000. Hanseatic Management Services Inc. bought a new stake in shares of Atlassian in the fourth quarter worth about $603,000. HB Wealth Management LLC increased its holdings in shares of Atlassian by 17.9% in the fourth quarter. HB Wealth Management LLC now owns 1,502 shares of the technology company’s stock worth $366,000 after acquiring an additional 228 shares in the last quarter. Finally, Premier Path Wealth Partners LLC bought a new stake in shares of Atlassian in the fourth quarter worth about $314,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Ratings Changes

TEAM has been the subject of several recent analyst reports. Piper Sandler increased their price target on Atlassian from $265.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Cantor Fitzgerald started coverage on Atlassian in a report on Friday, January 17th. They set a “neutral” rating and a $264.00 price objective for the company. Morgan Stanley increased their price objective on Atlassian from $259.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. UBS Group increased their price objective on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird increased their price objective on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.19.

Insider Activity

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $219.07, for a total value of $1,741,168.36. Following the completion of the transaction, the director now owns 309,972 shares in the company, valued at $67,905,566.04. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 4,560 shares of Atlassian stock in a transaction on Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the sale, the president now directly owns 224,436 shares of the company’s stock, valued at approximately $50,599,096.20. This trade represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 264,240 shares of company stock valued at $65,922,247. 38.55% of the stock is currently owned by company insiders.

Atlassian Stock Performance

Shares of TEAM opened at $268.00 on Tuesday. 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 stock has a fifty day moving average price of $257.68 and a 200-day moving average price of $205.02. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $287.97. The firm has a market cap of $69.80 billion, a PE ratio of -176.31 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.07) EPS. Equities research analysts predict that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

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.