GAMMA Investing LLC Purchases 54 Shares of Atlassian Co. (NASDAQ:TEAM)

GAMMA Investing LLC raised its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 22.9% during the fourth quarter, Holdings Channel reports. The fund owned 290 shares of the technology company’s stock after buying an additional 54 shares during the period. GAMMA Investing LLC’s holdings in Atlassian were worth $71,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares in the last quarter. Reston Wealth Management LLC bought a new stake in Atlassian in the third quarter worth $48,000. Quarry LP boosted its position in Atlassian by 143.8% during the second quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after buying an additional 220 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after buying an additional 82 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Atlassian in the third quarter worth about $103,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TEAM has been the subject of several analyst reports. UBS Group increased their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Jefferies Financial Group increased their price objective on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Macquarie assumed coverage on shares of Atlassian in a research note on Thursday, December 12th. They issued a “neutral” rating and a $290.00 target price on the stock. Truist Financial upgraded shares of Atlassian from a “hold” rating to a “buy” rating and upped their price target for the company from $250.00 to $300.00 in a report on Tuesday, January 7th. Finally, Morgan Stanley raised their price target on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Eight research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $266.10.

Insiders Place Their Bets

In other news, CAO Gene Liu sold 165 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total value of $40,563.60. Following the sale, the chief accounting officer now directly owns 56,423 shares of the company’s stock, valued at approximately $13,871,030.32. This represents a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $188.79, for a total value of $143,480.40. Following the transaction, the president now owns 228,996 shares of the company’s stock, valued at $43,232,154.84. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 263,480 shares of company stock worth $62,377,979. 38.55% of the stock is currently owned by company insiders.

Atlassian Price Performance

Shares of TEAM stock opened at $242.39 on Friday. The business’s fifty day moving average is $254.33 and its 200 day moving average is $199.59. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a market cap of $63.13 billion, a price-to-earnings ratio of -159.47 and a beta of 0.83. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) EPS. Research analysts expect that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Atlassian 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.