Atlassian Co. (NASDAQ:TEAM) Stock Position Raised by Cerity Partners LLC

Cerity Partners LLC boosted its holdings in Atlassian Co. (NASDAQ:TEAM) by 31.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,965 shares of the technology company’s stock after acquiring an additional 941 shares during the period. Cerity Partners LLC’s holdings in Atlassian were worth $943,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Atlassian in the third quarter valued at $26,000. Carmel Capital Partners LLC increased its holdings in shares of Atlassian by 28.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after acquiring an additional 57 shares during the period. Operose Advisors LLC bought a new stake in Atlassian in the 3rd quarter valued at about $99,000. First Horizon Advisors Inc. boosted its stake in Atlassian by 33.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 571 shares of the technology company’s stock valued at $115,000 after purchasing an additional 143 shares during the period. Finally, Valley National Advisers Inc. grew its position in Atlassian by 30.4% in the 4th quarter. Valley National Advisers Inc. now owns 579 shares of the technology company’s stock worth $137,000 after purchasing an additional 135 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $247.34, for a total value of $2,038,328.94. Following the completion of the sale, the chief executive officer now owns 354,363 shares of the company’s stock, valued at approximately $87,648,144.42. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $31,486,174.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $247.34, for a total transaction of $2,038,328.94. Following the completion of the transaction, the chief executive officer now owns 354,363 shares in the company, valued at $87,648,144.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 299,690 shares of company stock valued at $62,392,994. Insiders own 40.48% of the company’s stock.

Atlassian Stock Up 1.4 %

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

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Equities research analysts forecast that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TEAM. Citigroup cut their price target on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, April 12th. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Wells Fargo & Company increased their target price on shares of Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Finally, Mizuho lowered their target price on shares of Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Atlassian currently has an average rating of “Hold” and an average 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.