Thrivent Financial for Lutherans Has $2.26 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

Thrivent Financial for Lutherans reduced its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 9.7% in the 4th quarter, Holdings Channel reports. The firm owned 9,271 shares of the technology company’s stock after selling 999 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Atlassian were worth $2,261,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Leelyn Smith LLC raised its holdings in Atlassian by 6.0% during the 4th quarter. Leelyn Smith LLC now owns 8,447 shares of the technology company’s stock worth $2,056,000 after purchasing an additional 481 shares during the last quarter. Wealth Architects LLC acquired a new position in Atlassian in the fourth quarter valued at $260,000. Counterpoint Mutual Funds LLC bought a new stake in Atlassian during the fourth quarter valued at $708,000. Parallel Advisors LLC grew its holdings in Atlassian by 3.9% during the 4th quarter. Parallel Advisors LLC now owns 1,702 shares of the technology company’s stock worth $414,000 after acquiring an additional 64 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of Atlassian by 9.4% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,022 shares of the technology company’s stock worth $2,439,000 after acquiring an additional 865 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $217.99 on Friday. 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 stock has a market cap of $57.11 billion, a PE ratio of -162.68 and a beta of 0.91. The stock’s fifty day simple moving average is $269.28 and its two-hundred day simple moving average is $238.07. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

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

Analyst Ratings Changes

Several brokerages recently commented on TEAM. Mizuho upped their target price on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Piper Sandler increased their price target on Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group lifted their price objective on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Finally, StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $316.77.

Insider Activity

In related news, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the transaction, the president now owns 210,471 shares in the company, valued at approximately $54,690,889.35. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock valued at $70,644,164 over the last three months. Corporate insiders own 38.55% of the company’s stock.

About Atlassian

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.