Diversified Trust Co Has $3.62 Million Position in Atlassian Co. (NASDAQ:TEAM)

Diversified Trust Co boosted its holdings in Atlassian Co. (NASDAQ:TEAM) by 23.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,881 shares of the technology company’s stock after acquiring an additional 2,799 shares during the period. Diversified Trust Co’s holdings in Atlassian were worth $3,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in TEAM. Asset Dedication LLC lifted its holdings in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. GAMMA Investing LLC raised its holdings in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the last quarter. True Wealth Design LLC boosted its position in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of Atlassian in the 3rd quarter worth $48,000. Finally, Quarry LP lifted its position in shares of Atlassian by 143.8% during the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock worth $66,000 after buying an additional 220 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on TEAM. BMO Capital Markets upped their price objective on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Truist Financial upgraded shares of Atlassian from a “hold” rating to a “buy” rating and upped their price objective for the stock from $250.00 to $300.00 in a research report on Tuesday. Raymond James increased their price objective on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Canaccord Genuity Group raised their price target on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Oppenheimer boosted their target price on Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $264.25.

Insider Activity at Atlassian

In other Atlassian news, CTO Rajeev Bashyam Rajan sold 5,172 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $190.00, for a total transaction of $982,680.00. Following the completion of the sale, the chief technology officer now directly owns 204,109 shares of the company’s stock, valued at approximately $38,780,710. This represents a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $278.79, for a total value of $2,215,822.92. Following the transaction, the chief executive officer now directly owns 135,116 shares in the company, valued at approximately $37,668,989.64. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 269,402 shares of company stock valued at $63,056,206. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Performance

Shares of TEAM stock opened at $247.85 on Wednesday. The firm has a market capitalization of $64.55 billion, a PE ratio of -163.06 and a beta of 0.83. The company has a 50 day moving average price of $250.65 and a 200-day moving average price of $197.58. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) earnings per share. As a group, equities research analysts expect that Atlassian Co. will post -0.54 earnings per share for the current year.

Atlassian Company Profile

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.