Atlassian Co. (NASDAQ:TEAM) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC lifted its stake in Atlassian Co. (NASDAQ:TEAM) by 31.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,965 shares of the technology company’s stock after purchasing an additional 941 shares during the quarter. Cerity Partners LLC’s holdings in Atlassian were worth $943,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new stake in shares of Atlassian in the third quarter valued at $26,000. Carmel Capital Partners LLC lifted its holdings in Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after buying an additional 57 shares in the last quarter. Operose Advisors LLC purchased a new position in Atlassian in the 3rd quarter valued at approximately $99,000. First Horizon Advisors Inc. grew its stake in shares of Atlassian by 33.4% in the third quarter. First Horizon Advisors Inc. now owns 571 shares of the technology company’s stock worth $115,000 after acquiring an additional 143 shares in the last quarter. Finally, Valley National Advisers Inc. raised its stake in shares of Atlassian by 30.4% in the fourth quarter. Valley National Advisers Inc. now owns 579 shares of the technology company’s stock valued at $137,000 after acquiring an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Stock Up 1.4 %

TEAM opened at $194.27 on Tuesday. The business has a 50 day simple moving average of $201.39 and a 200-day simple moving average of $206.80. Atlassian Co. has a 12 month low of $128.02 and a 12 month high of $258.69. The stock has a market capitalization of $50.40 billion, a P/E ratio of -130.38 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. On average, equities analysts anticipate that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $191.53, for a total transaction of $1,578,398.73. Following the sale, the chief executive officer now owns 391,173 shares of the company’s stock, valued at approximately $74,921,364.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $191.53, for a total value of $1,578,398.73. Following the completion of the transaction, the chief executive officer now owns 391,173 shares in the company, valued at $74,921,364.69. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $193.63, for a total transaction of $147,158.80. Following the completion of the sale, the president now owns 162,610 shares in the company, valued at $31,486,174.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 299,690 shares of company stock valued at $62,392,994. Corporate insiders own 40.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TEAM shares. The Goldman Sachs Group boosted their price objective on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Truist Financial upped their price objective on Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a research report on Tuesday, January 16th. KeyCorp began coverage on Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Hold” and a consensus price target of $224.25.

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.