Assetmark Inc. Has $902,000 Holdings in Atlassian Co. (NASDAQ:TEAM)

Posted by Defense World Staff on Aug 11th, 2023

Assetmark Inc. cut its stake in shares of Atlassian Co. (NASDAQ:TEAM – Free Report) by 15.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,271 shares of the technology company’s stock after selling 985 shares during the period. Assetmark Inc.’s holdings in Atlassian were worth $902,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Guinness Atkinson Asset Management Inc acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $30,000. Meeder Asset Management Inc. raised its position in shares of Atlassian by 151.5% in the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after buying an additional 147 shares in the last quarter. Carmel Capital Partners LLC acquired a new stake in shares of Atlassian in the first quarter valued at approximately $34,000. Sonnipe Ltd acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $36,000. Finally, CoreCap Advisors LLC acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $39,000. 53.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Atlassian

In related news, insider Gene Liu sold 1,355 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $211.43, for a total value of $286,487.65. Following the transaction, the insider now owns 47,937 shares in the company, valued at $10,135,319.91. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Gene Liu sold 1,355 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $211.43, for a total value of $286,487.65. Following the transaction, the insider now owns 47,937 shares in the company, valued at $10,135,319.91. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Anutthara Bharadwaj sold 4,699 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $142.53, for a total transaction of $669,748.47. Following the transaction, the president now owns 213,479 shares in the company, valued at approximately $30,427,161.87. The disclosure for this sale can be found here. Insiders have sold a total of 335,357 shares of company stock worth $57,436,273 over the last quarter. Company insiders own 43.11% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price objective on shares of Atlassian from $205.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Piper Sandler lifted their price objective on shares of Atlassian from $170.00 to $200.00 in a research note on Friday, August 4th. OTR Global cut shares of Atlassian to a “positive” rating in a research note on Wednesday, July 12th. BMO Capital Markets lifted their price objective on shares of Atlassian from $180.00 to $220.00 and gave the company a “market perform” rating in a research note on Friday, August 4th. Finally, Truist Financial lifted their price objective on shares of Atlassian from $150.00 to $200.00 and gave the company a “hold” rating in a research note on Friday, August 4th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $202.35.

Check Out Our Latest Research Report on Atlassian

Atlassian Trading Up 2.7 %

TEAM stock opened at $197.47 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.31 and a current ratio of 1.31. Atlassian Co. has a 12-month low of $113.86 and a 12-month high of $292.24. The company’s fifty day simple moving average is $175.96 and its 200 day simple moving average is $165.58.

About Atlassian

(Free Report)

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.