Erste Asset Management GmbH Purchases 10,000 Shares of Atlassian Co. (NASDAQ:TEAM)

Erste Asset Management GmbH raised its position in shares of Atlassian Co. (NASDAQ:TEAM) by 16.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 70,000 shares of the technology company’s stock after purchasing an additional 10,000 shares during the quarter. Erste Asset Management GmbH’s holdings in Atlassian were worth $17,297,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TEAM. True Wealth Design LLC increased its position in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares in the last quarter. Avion Wealth increased its holdings in shares of 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 purchasing an additional 157 shares in the last quarter. Assetmark Inc. raised its stake in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares during the last quarter. Mainstream Capital Management LLC bought a new position in shares of Atlassian during the fourth quarter valued at $49,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Atlassian during the fourth quarter valued at $56,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 1,723 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total transaction of $526,962.32. Following the completion of the transaction, the president now directly owns 199,934 shares in the company, valued at approximately $61,147,814.56. This represents a 0.85 % 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, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $218.05, for a total transaction of $1,733,061.40. Following the completion of the sale, the director now owns 119,220 shares in the company, valued at $25,995,921. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 264,553 shares of company stock worth $72,358,556. Corporate insiders own 38.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Macquarie increased their price objective on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Oppenheimer lifted their target price on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Wells Fargo & Company raised their price target on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, JMP Securities reiterated a “market perform” rating on shares of Atlassian 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 data from MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and an average target price of $319.71.

Atlassian Trading Up 1.0 %

Atlassian stock opened at $226.44 on Thursday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The firm’s 50 day moving average price is $274.77 and its 200-day moving average price is $233.52. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $59.33 billion, a P/E ratio of -168.98 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) 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%. On average, equities analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.