HighPoint Advisor Group LLC Invests $248,000 in Atlassian Co. (NASDAQ:TEAM)

HighPoint Advisor Group LLC acquired a new position in shares of Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,044 shares of the technology company’s stock, valued at approximately $248,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Atlassian during the fourth quarter worth about $4,281,000. Hennessy Advisors Inc. acquired a new position in shares of Atlassian during the fourth quarter worth about $136,000. Vanguard Group Inc. grew its position in shares of Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after buying an additional 504,181 shares in the last quarter. Twin Focus Capital Partners LLC acquired a new position in shares of Atlassian during the fourth quarter worth about $227,000. Finally, American International Group Inc. grew its position in shares of Atlassian by 3.1% during the fourth quarter. American International Group Inc. now owns 10,772 shares of the technology company’s stock worth $2,562,000 after buying an additional 328 shares in the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Performance

Atlassian stock opened at $162.46 on Friday. Atlassian Co. has a 12 month low of $152.34 and a 12 month high of $258.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. The business has a 50 day simple moving average of $174.51 and a 200-day simple moving average of $202.26.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the business earned ($0.40) earnings per share. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. Equities research analysts anticipate that Atlassian Co. will post -0.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TEAM. TD Cowen lowered their price target on Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a report on Friday, April 26th. Oppenheimer lowered their price target on Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Piper Sandler lowered their price target on Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Robert W. Baird lowered their price target on Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Finally, Mizuho lowered their price target on Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 26th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and an average target price of $221.28.

Insider Transactions at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $194.67, for a total value of $1,604,275.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $194.67, for a total value of $1,604,275.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $193.63, for a total value of $147,158.80. Following the completion of the transaction, the president now owns 162,610 shares of the company’s stock, valued at approximately $31,486,174.30. The disclosure for this sale can be found here. Insiders sold 272,318 shares of company stock worth $49,526,292 over the last 90 days. 40.48% of the stock is currently owned by insiders.

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.