301 Shares in Atlassian Co. (NASDAQ:TEAM) Bought by CoreCap Advisors LLC

Posted by Defense World Staff on Jun 3rd, 2023

CoreCap Advisors LLC acquired a new position in Atlassian Co. (NASDAQ:TEAM – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 301 shares of the technology company’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. E Fund Management Co. Ltd. raised its holdings in shares of Atlassian by 6.0% in the 3rd quarter. E Fund Management Co. Ltd. now owns 1,447 shares of the technology company’s stock worth $305,000 after purchasing an additional 82 shares during the period. Pacer Advisors Inc. lifted its position in shares of Atlassian by 2.1% during the 4th quarter. Pacer Advisors Inc. now owns 4,333 shares of the technology company’s stock valued at $558,000 after buying an additional 88 shares during the last quarter. Bayesian Capital Management LP grew its stake in shares of Atlassian by 1.6% during the 3rd quarter. Bayesian Capital Management LP now owns 6,486 shares of the technology company’s stock worth $1,366,000 after acquiring an additional 100 shares during the period. Cullinan Associates Inc. increased its holdings in Atlassian by 1.6% in the 4th quarter. Cullinan Associates Inc. now owns 6,172 shares of the technology company’s stock worth $794,000 after acquiring an additional 100 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in Atlassian by 6.0% in the 1st quarter. Cetera Investment Advisers now owns 1,755 shares of the technology company’s stock valued at $516,000 after acquiring an additional 100 shares during the period. 45.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of research reports. Canaccord Genuity Group increased their target price on shares of Atlassian from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Barclays reduced their target price on shares of Atlassian from $155.00 to $130.00 in a research note on Sunday, May 7th. Morgan Stanley reduced their target price on shares of Atlassian from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. BMO Capital Markets cut their price target on Atlassian from $190.00 to $155.00 in a report on Friday, May 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Atlassian in a report on Monday, April 17th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $197.74.

Insider Activity at Atlassian

In related news, CEO Scott Farquhar sold 8,614 shares of the stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $177.86, for a total transaction of $1,532,086.04. Following the completion of the sale, the chief executive officer now directly owns 155,052 shares in the company, valued at approximately $27,577,548.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Joseph Leo Binz sold 1,737 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $146.11, for a total transaction of $253,793.07. Following the transaction, the chief financial officer now owns 69,035 shares in the company, valued at approximately $10,086,703.85. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Scott Farquhar sold 8,614 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $177.86, for a total value of $1,532,086.04. Following the transaction, the chief executive officer now owns 155,052 shares in the company, valued at approximately $27,577,548.72. The disclosure for this sale can be found here. Insiders sold 322,726 shares of company stock worth $49,716,194 in the last ninety days. 43.11% of the stock is owned by company insiders.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $183.90 on Friday. The stock has a market cap of $47.26 billion, a price-to-earnings ratio of -88.84 and a beta of 0.81. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.67. Atlassian Co. has a 1-year low of $113.86 and a 1-year high of $300.29. The stock’s 50-day moving average is $155.61 and its 200 day moving average is $151.30.

Atlassian (NASDAQ:TEAM – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.15). Atlassian had a negative net margin of 15.89% and a negative return on equity of 79.71%. The firm had revenue of $915.45 million for the quarter, compared to analysts’ expectations of $898.71 million. On average, sell-side analysts anticipate that Atlassian Co. will post -0.8 EPS for the current fiscal year.

Atlassian 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.