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

Mediolanum International Funds Ltd raised its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 47.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,082 shares of the technology company’s stock after buying 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 SEC filing.

A number of other hedge funds have also modified their holdings of the business. Virtu Financial LLC purchased a new stake in Atlassian during the 3rd quarter valued at about $606,000. Sequoia Financial Advisors LLC increased its holdings in shares of Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares during the last quarter. Fulton Bank N.A. purchased a new position in Atlassian during the fourth quarter worth approximately $447,000. Paloma Partners Management Co acquired a new position in Atlassian during the third quarter worth $1,588,000. Finally, Impax Asset Management Group plc grew its holdings in Atlassian by 590.6% in the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after buying an additional 31,986 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Oppenheimer lifted their price target on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday. Wells Fargo & Company boosted their target price on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday. Piper Sandler raised their price target on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday. Robert W. Baird upped their price objective on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group lifted their target price on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.00.

Insider Transactions at Atlassian

In related news, CAO Gene Liu sold 165 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total value of $40,563.60. Following the transaction, the chief accounting officer now directly owns 56,423 shares of the company’s stock, valued at $13,871,030.32. This trade represents a 0.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Monday, November 4th. The stock was sold at an average price of $219.07, for a total transaction of $1,741,168.36. Following the sale, the director now owns 309,972 shares in the company, valued at $67,905,566.04. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 257,156 shares of company stock valued at $65,313,573. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

Shares of Atlassian stock opened at $306.78 on Friday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $324.37. The company has a 50 day moving average of $260.51 and a 200 day moving average of $208.06. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) 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, research analysts predict that Atlassian Co. will post -0.55 EPS for the current fiscal 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.