Counterpoint Mutual Funds LLC Makes New Investment in Atlassian Co. (NASDAQ:TEAM)

Counterpoint Mutual Funds LLC bought a new stake in Atlassian Co. (NASDAQ:TEAM) in the 4th quarter, Holdings Channel.com reports. The fund bought 2,908 shares of the technology company’s stock, valued at approximately $708,000.

Several other large investors have also made changes to their positions in TEAM. Assetmark Inc. lifted its position in Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after purchasing an additional 41 shares during the period. Allworth Financial LP lifted its holdings in Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after buying an additional 47 shares during the period. GAMMA Investing LLC boosted its stake in Atlassian by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after acquiring an additional 54 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Atlassian by 4.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock worth $357,000 after acquiring an additional 56 shares during the period. Finally, J.W. Cole Advisors Inc. raised its position in shares of Atlassian by 1.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock valued at $963,000 after acquiring an additional 59 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Activity

In related news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $258.33, for a total value of $2,053,206.84. Following the transaction, the director now directly owns 63,584 shares of the company’s stock, valued at approximately $16,425,654.72. The trade was a 11.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the sale, the president now owns 211,991 shares of the company’s stock, valued at $54,006,827.16. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 264,553 shares of company stock worth $71,956,546 over the last quarter. Insiders own 38.55% of the company’s stock.

Atlassian Price Performance

Shares of TEAM opened at $218.44 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The business’s fifty day moving average is $273.44 and its 200 day moving average is $234.71. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The stock has a market cap of $57.23 billion, a P/E ratio of -163.01 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last posted 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%. Sell-side analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Raymond James reiterated an “outperform” rating and issued a $330.00 price objective (up previously from $250.00) on shares of Atlassian in a report on Friday, January 31st. Oppenheimer increased their price target on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Citigroup boosted their price objective on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. UBS Group increased their target price on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, William Blair reissued an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $319.71.

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.