Thoroughbred Financial Services LLC Purchases 728 Shares of Atlassian Co. (NASDAQ:TEAM)

Thoroughbred Financial Services LLC boosted its position in Atlassian Co. (NASDAQ:TEAM) by 42.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,423 shares of the technology company’s stock after acquiring an additional 728 shares during the period. Thoroughbred Financial Services LLC’s holdings in Atlassian were worth $589,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian in the 4th quarter worth $27,000. Summit Securities Group LLC acquired a new position in Atlassian during the fourth quarter worth $38,000. Avion Wealth lifted its stake in shares of Atlassian by 1,308.3% in 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 in the last quarter. Assetmark Inc. grew its holdings 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. Finally, Mainstream Capital Management LLC bought a new stake in shares of Atlassian during the fourth quarter worth about $49,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

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 quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The stock has a market cap of $49.17 billion, a PE ratio of -140.05 and a beta of 1.07. The stock has a fifty day moving average of $264.05 and a 200-day moving average of $240.16.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Equities research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares in the company, valued at approximately $54,690,889.35. This trade represents a 0.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $254.95, for a total transaction of $2,026,342.60. Following the completion of the transaction, the chief executive officer now owns 460,984 shares in the company, valued at approximately $117,527,870.80. This trade represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 270,981 shares of company stock valued at $71,914,254 in the last three months. Company insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the subject of a number of analyst reports. Barclays lifted their price target on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and set a $330.00 target price (up previously from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Scotiabank raised their price objective on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Oppenheimer upped their target price on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, Piper Sandler increased their target price on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $308.73.

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.