Union Bancaire Privee UBP SA Buys New Position in Atlassian Co. (NASDAQ:TEAM)

Union Bancaire Privee UBP SA purchased a new stake in Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,578 shares of the technology company’s stock, valued at approximately $2,976,000.

A number of other large investors have also modified their holdings of TEAM. Dimensional Fund Advisors LP lifted its holdings in shares of Atlassian by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 150,393 shares of the technology company’s stock worth $26,597,000 after purchasing an additional 5,878 shares during the period. Thrivent Financial for Lutherans purchased a new position in shares of Atlassian in the 2nd quarter valued at about $677,000. Toronto Dominion Bank raised its stake in shares of Atlassian by 7.5% during the 2nd quarter. Toronto Dominion Bank now owns 17,238 shares of the technology company’s stock worth $3,049,000 after buying an additional 1,201 shares during the period. AXA S.A. raised its position in Atlassian by 6.5% during the second quarter. AXA S.A. now owns 13,702 shares of the technology company’s stock worth $2,424,000 after acquiring an additional 841 shares during the period. Finally, MBB Public Markets I LLC purchased a new position in Atlassian in the 2nd quarter valued at about $2,006,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Cantor Fitzgerald started coverage on Atlassian in a research report on Friday, January 17th. They set a “neutral” rating and a $264.00 price target for the company. KeyCorp upped their price target on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Piper Sandler lifted their price target on Atlassian from $265.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company raised their price objective on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Truist Financial raised shares of Atlassian from a “hold” rating to a “buy” rating and increased their price target for the company from $250.00 to $300.00 in a research note on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $273.19.

Insider Transactions at Atlassian

In other Atlassian news, Director Heather Mirjahangir Fernandez sold 1,500 shares of Atlassian stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $338,175.00. Following the transaction, the director now directly owns 8,610 shares in the company, valued at approximately $1,941,124.50. This trade represents a 14.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 165 shares of Atlassian stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total transaction of $40,563.60. Following the completion of the transaction, the chief accounting officer now owns 56,423 shares in the company, valued at approximately $13,871,030.32. This trade represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 264,240 shares of company stock worth $65,922,247. 38.55% of the stock is currently owned by insiders.

Atlassian Stock Down 0.3 %

Shares of TEAM opened at $264.81 on Monday. The firm’s 50 day moving average price is $257.68 and its 200 day moving average price is $205.02. 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 Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted ($0.07) earnings per share. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, analysts predict that Atlassian Co. will post -0.55 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.