Xponance Inc. increased its holdings in Atlassian Co. (NASDAQ:TEAM – Free Report) by 2.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,866 shares of the technology company’s stock after acquiring an additional 457 shares during the period. Xponance Inc.’s holdings in Atlassian were worth $3,400,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of TEAM. Red Spruce Capital LLC raised its stake in shares of Atlassian by 3.4% during the 1st quarter. Red Spruce Capital LLC now owns 2,177 shares of the technology company’s stock worth $373,000 after purchasing an additional 72 shares during the period. First Horizon Advisors Inc. increased its holdings in Atlassian by 21.0% during the fourth quarter. First Horizon Advisors Inc. now owns 490 shares of the technology company’s stock worth $63,000 after buying an additional 85 shares during the last quarter. Pacer Advisors Inc. raised its position in Atlassian by 2.1% in the fourth quarter. Pacer Advisors Inc. now owns 4,333 shares of the technology company’s stock worth $558,000 after acquiring an additional 88 shares during the period. Cullinan Associates Inc. boosted its stake in Atlassian by 1.6% in the fourth quarter. Cullinan Associates Inc. now owns 6,172 shares of the technology company’s stock valued at $794,000 after acquiring an additional 100 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Atlassian by 6.0% during 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. 53.17% of the stock is owned by hedge funds and other institutional investors.
Atlassian Stock Performance
Shares of TEAM opened at $167.81 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.67. The stock has a 50-day moving average price of $160.10 and a 200-day moving average price of $157.35. Atlassian Co. has a 12-month low of $113.86 and a 12-month high of $300.29.
Insider Activity
In other Atlassian news, CEO Scott Farquhar sold 8,614 shares of Atlassian stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $158.64, for a total transaction of $1,366,524.96. Following the transaction, the chief executive officer now directly owns 501,884 shares of the company’s stock, valued at $79,618,877.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Scott Farquhar sold 8,614 shares of the firm’s stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $158.64, for a total transaction of $1,366,524.96. Following the transaction, the chief executive officer now directly owns 501,884 shares of the company’s stock, valued at $79,618,877.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Enrique T. Salem sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $130.00, for a total value of $1,300,000.00. Following the completion of the sale, the director now directly owns 124,162 shares of the company’s stock, valued at approximately $16,141,060. The disclosure for this sale can be found here. In the last three months, insiders have sold 329,295 shares of company stock worth $52,000,426. 43.11% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities analysts recently commented on TEAM shares. Oppenheimer reiterated an “outperform” rating and issued a $200.00 price objective on shares of Atlassian in a research note on Monday, April 17th. The Goldman Sachs Group cut Atlassian from a “buy” rating to a “neutral” rating and dropped their price target for the company from $240.00 to $165.00 in a research report on Friday, May 5th. Piper Sandler lifted their price objective on Atlassian from $140.00 to $170.00 in a report on Friday, June 9th. Berenberg Bank initiated coverage on shares of Atlassian in a research report on Thursday. They set a “hold” rating and a $150.00 target price for the company. Finally, BMO Capital Markets lowered their price target on shares of Atlassian from $190.00 to $155.00 in a research report on Friday, May 5th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus price target of $196.85.
Atlassian Profile
Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.
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