GAMMA Investing LLC Buys Shares of 427 Atlassian Co. (NASDAQ:TEAM)

GAMMA Investing LLC bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, HoldingsChannel.com reports. The firm bought 427 shares of the technology company’s stock, valued at approximately $107,000.

Several other large investors also recently added to or reduced their stakes in TEAM. Baillie Gifford & Co. raised its stake in Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after purchasing an additional 1,511,318 shares during the period. Morgan Stanley raised its stake in Atlassian by 156.8% during the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock valued at $361,449,000 after purchasing an additional 1,095,297 shares during the period. WCM Investment Management LLC raised its stake in Atlassian by 2.7% during the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after purchasing an additional 249,017 shares during the period. American Century Companies Inc. raised its stake in Atlassian by 58.7% during the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after purchasing an additional 159,102 shares during the period. Finally, Invesco Ltd. raised its stake in Atlassian by 45.8% during the 3rd quarter. Invesco Ltd. now owns 476,920 shares of the technology company’s stock valued at $96,104,000 after purchasing an additional 149,850 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $199.71, for a total value of $1,645,810.11. Following the completion of the transaction, the chief executive officer now owns 366,450 shares of the company’s stock, valued at approximately $73,183,729.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $199.71, for a total value of $1,645,810.11. Following the completion of the transaction, the chief executive officer now owns 366,450 shares of the company’s stock, valued at approximately $73,183,729.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $193.63, for a total value of $147,158.80. Following the completion of the transaction, the president now directly owns 162,610 shares of the company’s stock, valued at approximately $31,486,174.30. The disclosure for this sale can be found here. Insiders sold a total of 292,209 shares of company stock valued at $59,632,213 in the last quarter. Corporate insiders own 40.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TEAM. KeyCorp began coverage on shares of Atlassian in a research note on Tuesday, March 19th. They issued a “sector weight” rating on the stock. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. Robert W. Baird dropped their price target on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday. Truist Financial dropped their price target on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday. Finally, TD Cowen dropped their price target on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a research note on Friday. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Atlassian has a consensus rating of “Hold” and an average price target of $223.22.

Atlassian Price Performance

NASDAQ TEAM opened at $179.45 on Monday. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $46.55 billion, a PE ratio of -284.84 and a beta of 0.63. The stock has a 50-day simple moving average of $199.98 and a 200 day simple moving average of $206.59.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. Research analysts anticipate that Atlassian Co. will post -0.42 EPS for the current year.

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.