Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd raised its holdings in Atlassian Co. (NASDAQ:TEAM) by 47.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,082 shares of the technology company’s stock after purchasing an additional 10,337 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Atlassian were worth $7,908,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its stake in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the last quarter. True Wealth Design LLC raised its stake 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 worth $37,000 after purchasing an additional 231 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Atlassian during the third quarter worth $48,000. Quarry LP grew its position in Atlassian by 143.8% in the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after buying an additional 220 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after acquiring an additional 82 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TEAM. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. UBS Group upped their target price on Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a report on Friday. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research note on Friday. Piper Sandler increased their price objective on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Macquarie initiated coverage on shares of Atlassian in a research report on Thursday, December 12th. They set a “neutral” rating and a $290.00 target price for the company. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $307.00.

Atlassian Price Performance

TEAM opened at $306.78 on Friday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $324.37. The company’s 50 day simple moving average is $260.51 and its 200 day simple moving average is $208.06. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data 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 8.59% and a negative return on equity of 23.35%. On average, equities analysts forecast that Atlassian Co. will post -0.55 EPS for the current year.

Insider Transactions at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $270.63, for a total value of $2,150,967.24. Following the transaction, the director now directly owns 333,816 shares of the company’s stock, valued at $90,340,624.08. This trade represents a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 1,659 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total value of $407,798.79. Following the transaction, the president now owns 213,511 shares in the company, valued at approximately $52,483,138.91. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 257,156 shares of company stock worth $65,313,573 in the last three months. 38.55% of the stock is currently owned by company insiders.

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.