Union Bancaire Privee UBP SA Purchases New Shares in Atlassian Co. (NASDAQ:TEAM)

Union Bancaire Privee UBP SA purchased a new stake in Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,578 shares of the technology company’s stock, valued at approximately $2,976,000.

A number of other institutional investors have also made changes to their positions in the business. True Wealth Design LLC increased its position in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares during the period. Avion Wealth increased its position in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after purchasing an additional 157 shares during the period. Reston Wealth Management LLC acquired a new stake in Atlassian in the third quarter worth about $48,000. Kestra Investment Management LLC acquired a new stake in Atlassian in the fourth quarter worth about $56,000. Finally, Brown Brothers Harriman & Co. increased its position in Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after purchasing an additional 82 shares during the period. 94.45% of the stock is owned by institutional investors.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $297.51, for a total transaction of $2,364,609.48. Following the sale, the chief executive officer now owns 214,596 shares in the company, valued at $63,844,455.96. This represents a 3.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $254.76, for a total value of $387,235.20. Following the sale, the president now owns 211,991 shares in the company, valued at approximately $54,006,827.16. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,501 shares of company stock worth $75,480,290. Corporate insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on TEAM. Mizuho lifted their price objective on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Morgan Stanley lifted their price objective on Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Truist Financial restated a “buy” rating and set a $350.00 target price (up from $300.00) on shares of Atlassian in a research report on Friday, January 31st. Jefferies Financial Group boosted their target price on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a research report on Friday. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Price Performance

Shares of TEAM opened at $285.99 on Monday. The firm has a market capitalization of $74.93 billion, a PE ratio of -213.42 and a beta of 0.87. The stock has a 50 day simple moving average of $272.98 and a 200 day simple moving average of $223.88. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM) last released 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 7.22% and a negative return on equity of 17.37%. Sell-side analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

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.