Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Candriam S.C.A.

Candriam S.C.A. increased its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 12.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,740 shares of the technology company’s stock after acquiring an additional 1,319 shares during the quarter. Candriam S.C.A.’s holdings in Atlassian were worth $2,857,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TEAM. Point72 Asset Management L.P. raised its stake in Atlassian by 760.5% during the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after acquiring an additional 617,566 shares during the period. Two Sigma Advisers LP increased its stake in shares of Atlassian by 122.0% in the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after purchasing an additional 551,500 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of Atlassian in the third quarter valued at approximately $57,149,000. Parnassus Investments LLC increased its stake in shares of Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after purchasing an additional 245,286 shares during the period. Finally, Los Angeles Capital Management LLC increased its stake in shares of Atlassian by 12,047.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock valued at $55,521,000 after purchasing an additional 226,246 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TEAM shares. Barclays raised their price target on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler raised their price target on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Macquarie raised their price target on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Canaccord Genuity Group raised their price target on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, Cantor Fitzgerald raised their price target on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Trading Down 4.7 %

Atlassian stock opened at $238.86 on Monday. The company has a 50 day moving average price of $276.11 and a 200 day moving average price of $232.69. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $62.58 billion, a price-to-earnings ratio of -178.25 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS 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 forecast that Atlassian Co. will post -0.34 EPS for the current year.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the sale, the president now owns 211,991 shares in the company, valued at $54,006,827.16. This represents a 0.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the completion of the sale, the chief executive officer now owns 270,232 shares of the company’s stock, valued at approximately $87,098,475.92. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 272,501 shares of company stock valued at $74,977,422. Company insiders own 38.55% of the company’s stock.

Atlassian Company Profile

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.