Atlassian Co. (NASDAQ:TEAM) Shares Bought by Amundi

Amundi lifted its position in shares of Atlassian Co. (NASDAQ:TEAM) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 724,644 shares of the technology company’s stock after acquiring an additional 87,989 shares during the quarter. Amundi owned 0.28% of Atlassian worth $177,168,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its holdings in 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. Avion Wealth boosted its stake in shares of Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares in the last quarter. Assetmark Inc. grew its holdings in Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after acquiring an additional 41 shares during the period. Mainstream Capital Management LLC purchased a new position in Atlassian in the fourth quarter worth $49,000. Finally, Kestra Investment Management LLC acquired a new stake in Atlassian in the fourth quarter valued at $56,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 15,896 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $243.55, for a total value of $3,871,470.80. Following the completion of the sale, the chief executive officer now owns 429,192 shares of the company’s stock, valued at $104,529,711.60. This represents a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $269.35, for a total transaction of $2,140,793.80. Following the completion of the transaction, the director now owns 111,272 shares of the company’s stock, valued at $29,971,113.20. This trade represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 272,501 shares of company stock worth $74,977,422. 38.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TEAM shares. Wells Fargo & Company upped their price target on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Piper Sandler raised their price objective on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Raymond James reissued an “outperform” rating and set a $330.00 price target (up previously from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Mizuho upped their price objective on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, Canaccord Genuity Group lifted their price objective on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Atlassian Price Performance

TEAM stock opened at $238.86 on Monday. The stock has a 50-day moving average price of $276.11 and a two-hundred day moving average price of $232.69. The company has a market cap of $62.58 billion, a PE ratio of -178.25 and a beta of 0.91. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, research analysts predict that Atlassian Co. will post -0.34 EPS for the current 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.