Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in shares of Atlassian Co. (NASDAQ:TEAM) by 2.2% in the fourth quarter, HoldingsChannel reports. The firm owned 120,881 shares of the technology company’s stock after acquiring an additional 2,655 shares during the period. Victory Capital Management Inc.’s holdings in Atlassian were worth $29,420,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avion Wealth boosted its stake in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares during the period. Mainstream Capital Management LLC acquired a new position in Atlassian during the 4th quarter valued at about $49,000. True Wealth Design LLC boosted its stake in Atlassian by 23,100.0% during 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 during the period. Kestra Investment Management LLC acquired a new position in Atlassian during the 4th quarter valued at about $56,000. Finally, GAMMA Investing LLC raised its position in shares of Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after buying an additional 54 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Down 9.6 %

NASDAQ:TEAM opened at $215.89 on Tuesday. The firm has a market capitalization of $56.56 billion, a price-to-earnings ratio of -161.11 and a beta of 0.91. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The business’s fifty day moving average price is $275.49 and its 200 day moving average price is $233.12.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, sell-side analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $259.69, for a total transaction of $2,064,016.12. Following the transaction, the chief executive officer now directly owns 135,116 shares of the company’s stock, valued at approximately $35,088,274.04. The trade was a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Gene Liu sold 779 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the transaction, the chief accounting officer now owns 52,710 shares in the company, valued at $16,867,727.10. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 264,553 shares of company stock valued at $72,836,628. Company insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Scotiabank increased their price objective on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Raymond James reiterated an “outperform” rating and issued a $330.00 price objective (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. Piper Sandler upped their price objective on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Morgan Stanley upped their price objective on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and a consensus target price of $319.71.

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.