MJP Associates Inc. ADV Acquires 172 Shares of Atlassian Co. (NASDAQ:TEAM)

MJP Associates Inc. ADV boosted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 15.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,289 shares of the technology company’s stock after buying an additional 172 shares during the period. MJP Associates Inc. ADV’s holdings in Atlassian were worth $307,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of TEAM. OFI Invest Asset Management purchased a new position in shares of Atlassian in the third quarter worth $26,000. Tyler Stone Wealth Management acquired a new position in shares of Atlassian in the second quarter valued at about $34,000. Meeder Asset Management Inc. lifted its holdings in Atlassian by 151.5% in the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after acquiring an additional 147 shares during the period. Carmel Capital Partners LLC grew its stake in shares of Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after purchasing an additional 57 shares during the period. Finally, Quarry LP acquired a new stake in shares of Atlassian during the 2nd quarter valued at about $44,000. Institutional investors own 93.03% of the company’s stock.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $192.21, for a total transaction of $1,584,002.61. Following the completion of the sale, the chief executive officer now directly owns 24,723 shares in the company, valued at $4,752,007.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, President Anutthara Bharadwaj sold 2,470 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $240.55, for a total transaction of $594,158.50. Following the sale, the president now owns 171,674 shares in the company, valued at $41,296,180.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $192.21, for a total value of $1,584,002.61. Following the sale, the chief executive officer now directly owns 24,723 shares in the company, valued at approximately $4,752,007.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 293,159 shares of company stock valued at $64,129,051. 40.48% of the stock is owned by company insiders.

Atlassian Stock Performance

NASDAQ TEAM traded up $1.97 during trading hours on Thursday, hitting $195.11. The company had a trading volume of 1,120,009 shares, compared to its average volume of 1,742,633. The business has a 50 day moving average of $214.94 and a 200-day moving average of $207.04. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. Atlassian Co. has a 1-year low of $128.02 and a 1-year high of $258.69. The company has a market cap of $50.61 billion, a PE ratio of -130.35 and a beta of 0.64.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. As a group, equities research analysts expect that Atlassian Co. will post -0.4 EPS for the current year.

Analyst Upgrades and Downgrades

TEAM has been the subject of several research reports. Truist Financial boosted their price objective on Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a research note on Tuesday, January 16th. The Goldman Sachs Group increased their price objective on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Scotiabank began coverage on Atlassian in a report on Friday, December 1st. They set a “sector perform” rating and a $185.00 target price on the stock. Mizuho lifted their price objective on Atlassian from $240.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Finally, Capital One Financial assumed coverage on Atlassian in a report on Monday, December 18th. They issued an “equal weight” rating and a $238.00 target price for the company. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Atlassian has a consensus rating of “Hold” and an average target price of $225.19.

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.