Strs Ohio Raises Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Strs Ohio boosted its position in shares of Atlassian Co. (NASDAQ:TEAM) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,548 shares of the technology company’s stock after buying an additional 1,158 shares during the quarter. Strs Ohio’s holdings in Atlassian were worth $9,882,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management bought a new position in Atlassian in the 3rd quarter valued at $26,000. Meeder Asset Management Inc. increased its holdings in Atlassian by 151.5% during the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock worth $31,000 after purchasing an additional 147 shares during the period. Tyler Stone Wealth Management bought a new stake in Atlassian during the 2nd quarter valued at $34,000. Quarry LP purchased a new stake in shares of Atlassian in the 2nd quarter worth $44,000. Finally, Carolinas Wealth Consulting LLC grew its position in shares of Atlassian by 1,365.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 293 shares of the technology company’s stock worth $50,000 after buying an additional 273 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Stock Up 0.1 %

TEAM stock opened at $195.07 on Thursday. Atlassian Co. has a 52-week low of $128.02 and a 52-week high of $258.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The company’s 50-day simple moving average is $203.04 and its 200-day simple moving average is $206.74.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. As a group, equities analysts predict that Atlassian Co. will post -0.4 earnings per share for the current year.

Insider Activity

In related news, President Anutthara Bharadwaj sold 2,470 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $240.55, for a total transaction of $594,158.50. Following the completion of the transaction, the president now owns 171,674 shares in the company, valued at approximately $41,296,180.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, President Anutthara Bharadwaj sold 2,470 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $240.55, for a total value of $594,158.50. Following the completion of the transaction, the president now directly owns 171,674 shares of the company’s stock, valued at approximately $41,296,180.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Gene Liu sold 227 shares of Atlassian stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $48,321.49. Following the sale, the chief accounting officer now directly owns 47,066 shares in the company, valued at approximately $10,018,939.42. The disclosure for this sale can be found here. Insiders have sold a total of 293,159 shares of company stock worth $61,684,688 over the last 90 days. 40.48% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TEAM shares. Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $235.00 to $275.00 in a report on Thursday, April 11th. UBS Group lowered their price target on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. William Blair reiterated an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. Wells Fargo & Company lifted their price objective on shares of Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, KeyCorp started coverage on Atlassian in a research report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $224.25.

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.