Curi RMB Capital LLC Grows Stake in Atlassian Co. (NASDAQ:TEAM)

Curi RMB Capital LLC grew its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,812 shares of the technology company’s stock after purchasing an additional 167 shares during the period. Curi RMB Capital LLC’s holdings in Atlassian were worth $4,092,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA acquired a new stake in Atlassian in the fourth quarter worth about $687,486,000. JPMorgan Chase & Co. boosted its stake in Atlassian by 72.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Invesco Ltd. grew its position in Atlassian by 265.9% during the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock worth $595,171,000 after purchasing an additional 1,777,179 shares during the last quarter. Norges Bank acquired a new position in Atlassian during the 4th quarter valued at approximately $296,697,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Atlassian in the fourth quarter worth $234,547,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Price Performance

Atlassian stock opened at $202.75 on Friday. The stock has a market capitalization of $53.12 billion, a P/E ratio of -151.30 and a beta of 1.07. The company’s fifty day moving average price is $239.67 and its 200 day moving average price is $242.74. 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 Co. has a 1 year low of $135.29 and a 1 year high of $326.00.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TEAM. Jefferies Financial Group cut their target price on Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Scotiabank increased their price objective on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. KeyCorp decreased their target price on Atlassian from $365.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a report on Monday, March 31st. Finally, Raymond James restated an “outperform” rating and set a $330.00 price objective (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $297.73.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $265.33, for a total transaction of $2,108,842.84. Following the completion of the sale, the chief executive officer now owns 365,608 shares of the company’s stock, valued at $97,006,770.64. This represents a 2.13 % 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, President Anutthara Bharadwaj sold 1,723 shares of the firm’s stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 261,513 shares of company stock worth $67,123,959. 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.