Whittier Trust Co. of Nevada Inc. Acquires 364 Shares of Atlassian Co. (NASDAQ:TEAM)

Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 164.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 585 shares of the technology company’s stock after acquiring an additional 364 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Atlassian were worth $142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Assetmark Inc. lifted its stake in shares of 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 buying an additional 41 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Atlassian by 3.1% during the 4th 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 lifted 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 valued at $71,000 after buying an additional 54 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Atlassian by 4.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock valued at $357,000 after buying an additional 56 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted 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 worth $963,000 after purchasing an additional 59 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the transaction, the president now directly owns 210,471 shares in the company, valued at $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction 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 transaction, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at $104,529,711.60. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 263,033 shares of company stock worth $71,015,177. Company insiders own 38.55% of the company’s stock.

Atlassian Price Performance

Shares of TEAM opened at $227.34 on Monday. The company has a market cap of $59.56 billion, a price-to-earnings ratio of -169.66 and a beta of 0.91. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. 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 company has a 50 day moving average of $271.24 and a two-hundred day moving average of $236.81.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. As a group, analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

TEAM has been the topic of several research analyst reports. Jefferies Financial Group boosted their price target on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Mizuho boosted their price target on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Truist Financial reiterated a “buy” rating and issued a $350.00 price target (up previously from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Oppenheimer boosted their price target on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $316.77.

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.