Hanseatic Management Services Inc. Purchases New Position in Atlassian Co. (NASDAQ:TEAM)

Hanseatic Management Services Inc. acquired a new position in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,478 shares of the technology company’s stock, valued at approximately $603,000.

Several other hedge funds have also modified their holdings of TEAM. GAMMA Investing LLC increased its position in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of Atlassian in the 3rd quarter worth about $48,000. Quarry LP lifted its holdings in shares of Atlassian by 143.8% in the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after acquiring an additional 220 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after acquiring an additional 82 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Atlassian

In other Atlassian news, CAO Gene Liu sold 1,024 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $230,860.80. Following the completion of the sale, the chief accounting officer now directly owns 59,168 shares in the company, valued at $13,339,425.60. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $219.07, for a total value of $1,741,168.36. Following the transaction, the director now directly owns 309,972 shares in the company, valued at approximately $67,905,566.04. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 280,136 shares of company stock valued at $67,814,587 in the last 90 days. Insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Piper Sandler upped their price objective on Atlassian from $265.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Jefferies Financial Group increased their price target on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Robert W. Baird lifted their price objective on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Mizuho increased their target price on shares of Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Truist Financial raised shares of Atlassian from a “hold” rating to a “buy” rating and lifted their price target for the stock from $250.00 to $300.00 in a research note on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and an average target price of $272.00.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $252.36 on Friday. The firm has a 50 day moving average of $256.36 and a 200 day moving average of $202.09. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.07) earnings per share. Equities research analysts predict that Atlassian Co. will post -0.55 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.