Defender Capital LLC. Purchases New Position in Atlassian Co. (NASDAQ:TEAM)

Defender Capital LLC. acquired a new stake in shares of Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 2,104 shares of the technology company’s stock, valued at approximately $512,000. Atlassian accounts for 0.2% of Defender Capital LLC.’s investment portfolio, making the stock its 22nd largest holding.

Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Atlassian by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 150,393 shares of the technology company’s stock valued at $26,597,000 after purchasing an additional 5,878 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of Atlassian in the second quarter valued at approximately $677,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Atlassian during the second quarter worth $407,000. Quarry LP lifted 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 acquiring an additional 220 shares in the last quarter. Finally, Truist Financial Corp lifted its position in Atlassian by 2.5% in the 2nd quarter. Truist Financial Corp now owns 84,358 shares of the technology company’s stock valued at $14,921,000 after acquiring an additional 2,050 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $269.01, for a total value of $2,138,091.48. Following the sale, the chief executive officer now owns 349,712 shares of the company’s stock, valued at $94,076,025.12. The trade was a 2.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Heather Mirjahangir Fernandez sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $338,175.00. Following the completion of the transaction, the director now directly owns 8,610 shares of the company’s stock, valued at approximately $1,941,124.50. The trade was a 14.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 264,240 shares of company stock valued at $66,529,872. 38.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Truist Financial upgraded Atlassian from a “hold” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a research note on Tuesday, January 7th. UBS Group boosted their price objective on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Macquarie initiated coverage on shares of Atlassian in a research report on Thursday, December 12th. They set a “neutral” rating and a $290.00 price target on the stock. Jefferies Financial Group lifted their price objective on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Raymond James raised their target price on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.19.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $271.33 on Thursday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97. The firm has a 50 day moving average of $259.32 and a 200 day moving average of $206.76. 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 released its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned ($0.07) EPS. Atlassian’s revenue was up 21.5% compared to the same quarter last year. Equities research analysts predict that Atlassian Co. will post -0.55 earnings per share 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.