Atlassian Co. (NASDAQ:TEAM) Shares Bought by Virtu Financial LLC

Virtu Financial LLC grew its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 77.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,767 shares of the technology company’s stock after purchasing an additional 2,952 shares during the period. Virtu Financial LLC’s holdings in Atlassian were worth $1,647,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TEAM. Assetmark Inc. raised its holdings in Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares during the last quarter. Allworth Financial LP increased its position in shares of 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 in the last quarter. GAMMA Investing LLC raised its stake in shares of Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after buying an additional 54 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Atlassian by 4.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock worth $357,000 after buying an additional 56 shares in the last quarter. Finally, J.W. Cole Advisors Inc. grew its stake in Atlassian by 1.5% in 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. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the subject of a number of research reports. StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Mizuho upped their target price on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. UBS Group raised their price target on Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Piper Sandler boosted their price target on Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Macquarie lifted their price objective on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $316.77.

Insider Transactions at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the transaction, the president now owns 210,471 shares in the company, valued at $54,690,889.35. This represents a 0.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the sale, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at $104,529,711.60. This trade represents a 3.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,033 shares of company stock valued at $71,015,177 over the last 90 days. Corporate insiders own 38.55% of the company’s stock.

Atlassian Price Performance

TEAM stock opened at $227.34 on Friday. The company has a market cap of $59.56 billion, a PE ratio of -169.66 and a beta of 0.91. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average price of $271.24 and a two-hundred day moving average price of $236.29. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

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

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.