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

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC grew its stake in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares during the last quarter. Avion Wealth grew its stake in shares of Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares during the last quarter. Assetmark Inc. grew its stake in shares of Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after buying an additional 41 shares during the last quarter. Mainstream Capital Management LLC bought a new position in shares of Atlassian during the fourth quarter valued at about $49,000. Finally, Kestra Investment Management LLC bought a new position in shares of Atlassian during the fourth quarter valued at about $56,000. 94.45% of the stock is owned by institutional investors.

Insider Activity at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares of the company’s stock, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Gene Liu sold 568 shares of Atlassian stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the sale, the chief accounting officer now directly owns 52,142 shares of the company’s stock, valued at approximately $16,272,475.36. This trade represents a 1.08 % 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

Shares of TEAM opened at $227.34 on Monday. The company has a market capitalization of $59.56 billion, a P/E ratio of -169.66 and a beta of 0.91. 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 firm has a 50 day moving average of $271.24 and a 200 day moving average of $236.81. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its quarterly 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, equities research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TEAM has been the topic of several recent analyst reports. William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Morgan Stanley raised their target price on Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Cantor Fitzgerald raised their target price on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Truist Financial restated a “buy” rating and issued a $350.00 price objective (up from $300.00) on shares of Atlassian in a report on Friday, January 31st. Finally, Piper Sandler raised their price objective on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $316.77.

Atlassian Company 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.