2,884 Shares in Atlassian Co. (NASDAQ:TEAM) Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC purchased a new stake in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,884 shares of the technology company’s stock, valued at approximately $686,000.

Several other hedge funds have also recently bought and sold shares of the stock. OFI Invest Asset Management bought a new position in shares of Atlassian during the third quarter worth approximately $26,000. Carmel Capital Partners LLC increased its position in Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after buying an additional 57 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Atlassian by 271.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after buying an additional 271 shares in the last quarter. Operose Advisors LLC bought a new stake in shares of Atlassian in the third quarter valued at about $99,000. Finally, GAMMA Investing LLC acquired a new position in shares of Atlassian in the fourth quarter valued at about $107,000. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Performance

Shares of TEAM stock opened at $178.52 on Thursday. The firm has a market capitalization of $46.47 billion, a price-to-earnings ratio of -283.37 and a beta of 0.67. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. The business’s 50-day moving average price is $195.77 and its 200-day moving average price is $205.78. Atlassian Co. has a 12 month low of $128.02 and a 12 month high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.62 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm’s revenue was up 29.9% compared to the same quarter last year. During the same period last year, the company earned ($0.40) EPS. Equities research analysts forecast that Atlassian Co. will post -0.29 EPS for the current year.

Insider Buying and Selling

In related news, CAO Gene Liu sold 227 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $48,321.49. Following the completion of the transaction, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Gene Liu sold 227 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the sale, the chief accounting officer now directly owns 47,066 shares in the company, valued at $10,018,939.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph Leo Binz sold 601 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $127,934.87. Following the transaction, the chief financial officer now owns 101,447 shares of the company’s stock, valued at approximately $21,595,022.89. The disclosure for this sale can be found here. Insiders have sold a total of 300,450 shares of company stock valued at $59,641,278 over the last 90 days. 40.48% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Mizuho dropped their price objective on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Wells Fargo & Company raised their price objective on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. UBS Group cut their target price on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Citigroup decreased their price target on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Finally, Robert W. Baird cut their price objective on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $223.22.

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.