Bryce Point Capital LLC Acquires New Position in Atlassian Co. (NASDAQ:TEAM)

Bryce Point Capital LLC bought a new position in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,001 shares of the technology company’s stock, valued at approximately $487,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Corebridge Financial Inc. boosted its stake in Atlassian by 0.3% during the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company’s stock worth $2,555,000 after buying an additional 35 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after acquiring an additional 41 shares during the period. Allworth Financial LP boosted its position in shares of Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after acquiring an additional 47 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Atlassian by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after purchasing an additional 54 shares during the period. Finally, Venturi Wealth Management LLC increased its position in Atlassian by 4.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock worth $357,000 after purchasing an additional 56 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TEAM shares. Canaccord Genuity Group upped their price objective on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. UBS Group cut their price objective on Atlassian from $330.00 to $230.00 and set a “neutral” rating for the company in a research report on Tuesday. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and upped their target price for the company from $255.00 to $292.00 in a research report on Friday, January 10th. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. Finally, The Goldman Sachs Group lifted their target price on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $308.73.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $209.73, for a total value of $1,666,934.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Gene Liu sold 568 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.08, for a total value of $177,261.44. Following the transaction, the chief accounting officer now owns 52,142 shares in the company, valued at $16,272,475.36. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 270,981 shares of company stock worth $71,914,254. 38.55% of the stock is currently owned by insiders.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $187.67 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The firm has a market capitalization of $49.17 billion, a P/E ratio of -140.05 and a beta of 1.07. The company’s fifty day moving average price is $264.05 and its 200 day moving average price is $239.57.

Atlassian (NASDAQ:TEAM) last released its quarterly 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 return on equity of 17.37% and a negative net margin of 7.22%. As a group, sell-side analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.