Global Retirement Partners LLC Has $192,000 Holdings in Atlassian Co. (NASDAQ:TEAM)

Global Retirement Partners LLC lifted its position in Atlassian Co. (NASDAQ:TEAM) by 17.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 787 shares of the technology company’s stock after acquiring an additional 117 shares during the quarter. Global Retirement Partners LLC’s holdings in Atlassian were worth $192,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEAM. True Wealth Design LLC lifted its holdings in shares of Atlassian by 23,100.0% in the third 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 lifted its stake in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after acquiring an additional 157 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in Atlassian in the 3rd quarter worth about $48,000. Kestra Investment Management LLC acquired a new stake in Atlassian during the 4th quarter worth about $56,000. Finally, Brown Brothers Harriman & Co. grew its stake in Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Piper Sandler raised their price target on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Macquarie boosted their price target on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Mizuho increased their price objective on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Robert W. Baird lifted their price objective on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Atlassian Price Performance

NASDAQ TEAM opened at $284.26 on Wednesday. The stock has a 50-day simple moving average of $273.10 and a 200 day simple moving average of $224.90. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The stock has a market capitalization of $74.48 billion, a PE ratio of -212.13 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) 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%. Research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the sale, the president now directly owns 211,991 shares of the company’s stock, valued at $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88. Following the completion of the transaction, the chief executive officer now directly owns 270,232 shares of the company’s stock, valued at approximately $87,098,475.92. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,501 shares of company stock worth $75,651,410 in the last ninety days. 38.55% of the stock is currently owned by insiders.

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.