Juncture Wealth Strategies LLC acquired a new stake in Atlassian Co. (NASDAQ:TEAM – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 975 shares of the technology company’s stock, valued at approximately $237,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in Atlassian by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 150,393 shares of the technology company’s stock worth $26,597,000 after acquiring an additional 5,878 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in Atlassian in the second quarter valued at approximately $677,000. Toronto Dominion Bank grew its holdings in Atlassian by 7.5% in the second quarter. Toronto Dominion Bank now owns 17,238 shares of the technology company’s stock valued at $3,049,000 after purchasing an additional 1,201 shares during the period. AXA S.A. grew its holdings in Atlassian by 6.5% in the second quarter. AXA S.A. now owns 13,702 shares of the technology company’s stock valued at $2,424,000 after purchasing an additional 841 shares during the period. Finally, MBB Public Markets I LLC acquired a new position in Atlassian during the second quarter valued at approximately $2,006,000. Institutional investors and hedge funds own 94.45% of the company’s stock.
Insider Activity
In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $188.64, for a total value of $1,499,310.72. Following the transaction, the chief executive officer now owns 349,712 shares in the company, valued at approximately $65,969,671.68. This represents a 2.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 4,560 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $1,028,052.00. Following the completion of the transaction, the president now owns 224,436 shares in the company, valued at $50,599,096.20. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 272,188 shares of company stock worth $67,421,558 in the last 90 days. Company insiders own 38.55% of the company’s stock.
Atlassian Price Performance
Atlassian (NASDAQ:TEAM – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company earned ($0.07) EPS. Atlassian’s revenue was up 21.5% on a year-over-year basis. As a group, research analysts expect that Atlassian Co. will post -0.55 EPS for the current fiscal year.
Analyst Ratings Changes
TEAM has been the topic of a number of recent research reports. Piper Sandler lifted their price target on shares of Atlassian from $265.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Jefferies Financial Group lifted their price target on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Friday. Raymond James boosted their target price on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Scotiabank boosted their target price on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Finally, Robert W. Baird boosted their target price on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average price target of $273.19.
View Our Latest Report on Atlassian
Atlassian 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.
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