Atlassian Co. (NASDAQ:TEAM) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its holdings in Atlassian Co. (NASDAQ:TEAM) by 54.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,593 shares of the technology company’s stock after purchasing an additional 88,742 shares during the period. Russell Investments Group Ltd. owned about 0.10% of Atlassian worth $61,621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TEAM. Massachusetts Financial Services Co. MA acquired a new position in Atlassian in the fourth quarter worth approximately $687,486,000. JPMorgan Chase & Co. boosted its stake in shares of Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after acquiring an additional 1,806,042 shares in the last quarter. Norges Bank acquired a new position in shares of Atlassian in the 4th quarter worth $296,697,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Atlassian during the fourth quarter worth $234,547,000. Finally, Los Angeles Capital Management LLC raised its position in shares of Atlassian by 12,047.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock worth $55,521,000 after purchasing an additional 226,246 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $187.67 on Monday. The business’s 50-day simple moving average is $264.05 and its 200-day simple moving average is $240.72. 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. The firm has a market cap of $49.17 billion, a price-to-earnings ratio of -140.05 and a beta of 1.07.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. As a group, equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several recent analyst reports. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Truist Financial reduced their price target on shares of Atlassian from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Stephens began coverage on shares of Atlassian in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $255.00 price objective on the stock. Mizuho increased their target price on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Finally, Citigroup raised their target price on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $308.73.

Insider Buying and Selling at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $253.01, for a total value of $2,010,923.48. Following the sale, the director now owns 389,452 shares of the company’s stock, valued at $98,535,250.52. This trade represents a 2.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Anutthara Bharadwaj sold 1,723 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total value of $526,962.32. Following the transaction, the president now owns 199,934 shares of the company’s stock, valued at approximately $61,147,814.56. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,033 shares of company stock worth $69,887,912 over the last ninety days. Company insiders own 38.55% of the company’s stock.

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.