Y Intercept Hong Kong Ltd Increases Stake in Atlassian Co. (NASDAQ:TEAM)

Y Intercept Hong Kong Ltd raised its position in shares of Atlassian Co. (NASDAQ:TEAM) by 64.2% in the fourth quarter, Holdings Channel reports. The firm owned 31,292 shares of the technology company’s stock after acquiring an additional 12,239 shares during the quarter. Atlassian accounts for 0.5% of Y Intercept Hong Kong Ltd’s holdings, making the stock its 15th biggest holding. Y Intercept Hong Kong Ltd’s holdings in Atlassian were worth $7,616,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. True Wealth Design LLC increased 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 worth $37,000 after buying an additional 231 shares in the last quarter. Avion Wealth boosted its holdings in shares of 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 acquiring an additional 157 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of Atlassian in the third quarter worth approximately $48,000. Kestra Investment Management LLC bought a new position in Atlassian during the fourth quarter valued at approximately $56,000. Finally, Brown Brothers Harriman & Co. boosted its holdings in Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after purchasing an additional 82 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Trading Down 4.2 %

TEAM stock opened at $285.99 on Monday. The company has a market capitalization of $74.93 billion, a price-to-earnings ratio of -213.42 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The business has a 50 day simple moving average of $272.98 and a two-hundred day simple moving average of $223.88.

Atlassian (NASDAQ:TEAM) last issued its 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 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 fiscal year.

Insider Activity

In other news, CAO Gene Liu sold 779 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the completion of the transaction, the chief accounting officer now directly owns 52,710 shares in the company, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the sale, the chief executive officer now owns 429,192 shares in the company, valued at $104,529,711.60. This represents a 3.57 % 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 $75,480,290 over the last 90 days. Corporate insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JMP Securities reissued a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. KeyCorp raised their price objective on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a report on Friday. Cantor Fitzgerald lifted their price target on shares of Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, UBS Group boosted their price objective on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Eight equities 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $319.71.

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.