Bleakley Financial Group LLC Takes $256,000 Position in Atlassian Co. (NASDAQ:TEAM)

Posted by on May 10th, 2023

Bleakley Financial Group LLC purchased a new stake in shares of Atlassian Co. (NASDAQ:TEAM – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,986 shares of the technology company’s stock, valued at approximately $256,000.

Other hedge funds have also modified their holdings of the company. Guinness Atkinson Asset Management Inc bought a new stake in shares of Atlassian during the fourth quarter valued at approximately $30,000. Sonnipe Ltd bought a new stake in shares of Atlassian during the fourth quarter valued at approximately $36,000. Huntington National Bank grew its stake in shares of Atlassian by 64.4% during the third quarter. Huntington National Bank now owns 286 shares of the technology company’s stock valued at $60,000 after purchasing an additional 112 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of Atlassian during the fourth quarter valued at approximately $42,000. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in shares of Atlassian by 155.8% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 330 shares of the technology company’s stock valued at $42,000 after purchasing an additional 201 shares during the last quarter. 45.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Atlassian news, insider Gene Liu sold 238 shares of Atlassian stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $180.79, for a total value of $43,028.02. Following the sale, the insider now directly owns 50,413 shares in the company, valued at approximately $9,114,166.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Atlassian news, CEO Michael Cannon-Brookes sold 8,614 shares of Atlassian stock in a transaction on Monday, May 8th. The shares were sold at an average price of $131.51, for a total value of $1,132,827.14. Following the sale, the chief executive officer now directly owns 312,376 shares in the company, valued at approximately $41,080,567.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gene Liu sold 238 shares of Atlassian stock in a transaction on Tuesday, February 14th. The shares were sold at an average price of $180.79, for a total transaction of $43,028.02. Following the completion of the sale, the insider now owns 50,413 shares in the company, valued at $9,114,166.27. The disclosure for this sale can be found here. Insiders have sold a total of 281,329 shares of company stock worth $44,910,401 over the last ninety days. Company insiders own 43.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TEAM shares. KeyCorp raised their price objective on shares of Atlassian from $174.00 to $187.00 and gave the company an “overweight” rating in a research note on Thursday, April 20th. Canaccord Genuity Group raised their price objective on shares of Atlassian from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. StockNews.com started coverage on shares of Atlassian in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Robert W. Baird reduced their price objective on shares of Atlassian from $190.00 to $175.00 in a research note on Friday, May 5th. Finally, BMO Capital Markets cut their target price on shares of Atlassian from $190.00 to $155.00 in a report on Friday, May 5th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $197.74.

Atlassian Trading Up 2.4 %

Shares of NASDAQ:TEAM opened at $133.15 on Wednesday. Atlassian Co. has a 12 month low of $113.86 and a 12 month high of $300.29. The company has a quick ratio of 1.30, a current ratio of 1.31 and a debt-to-equity ratio of 1.67. The company’s fifty day simple moving average is $157.62 and its 200 day simple moving average is $152.23. The firm has a market cap of $34.13 billion, a price-to-earnings ratio of -64.32 and a beta of 0.82.

Atlassian Company Profile

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Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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