Proficio Capital Partners LLC Purchases New Stake in Atlassian Co. (NASDAQ:TEAM)

Proficio Capital Partners LLC bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 91,998 shares of the technology company’s stock, valued at approximately $22,390,000.

Other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares in the last quarter. Avion Wealth boosted its holdings 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 in the last quarter. Assetmark Inc. increased its position in Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after buying an additional 41 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in shares of Atlassian during the 4th quarter worth about $49,000. Finally, Kestra Investment Management LLC acquired a new position in shares of Atlassian during the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Trading Up 5.0 %

TEAM opened at $218.44 on Friday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a market cap of $57.23 billion, a price-to-earnings ratio of -163.01 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a 50 day simple moving average of $273.44 and a 200 day simple moving average of $233.71.

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 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%. On average, sell-side analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TEAM shares. UBS Group raised their target price on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. The Goldman Sachs Group raised their price objective on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a report on Wednesday. Piper Sandler increased their price target on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group upped their price objective on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $319.71.

Insider Buying and Selling

In other Atlassian news, CAO Gene Liu sold 568 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $312.08, for a total transaction of $177,261.44. Following the sale, the chief accounting officer now directly owns 52,142 shares of the company’s stock, valued at $16,272,475.36. The trade was a 1.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $227.55, for a total value of $1,808,567.40. Following the completion of the transaction, the chief executive officer now owns 103,324 shares of the company’s stock, valued at approximately $23,511,376.20. This represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 272,501 shares of company stock worth $74,167,124 over the last ninety days. Company insiders own 38.55% of the company’s stock.

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.