Mesirow Financial Investment Management Inc. Makes New $229,000 Investment in Atlassian Co. (NASDAQ:TEAM)

Mesirow Financial Investment Management Inc. acquired a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 942 shares of the technology company’s stock, valued at approximately $229,000.

Several other large investors have also recently bought and sold shares of the company. True Wealth Design LLC raised its position in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares during the last quarter. Avion Wealth raised its position in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after acquiring an additional 157 shares during the last quarter. Assetmark Inc. raised its position in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after acquiring an additional 41 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in shares of Atlassian during the 4th quarter valued at $49,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Atlassian during the 4th quarter valued at $56,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the sale, the president now directly owns 211,991 shares in the company, valued at approximately $54,006,827.16. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $259.69, for a total transaction of $2,064,016.12. Following the completion of the sale, the chief executive officer now owns 135,116 shares of the company’s stock, valued at $35,088,274.04. This trade represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 272,501 shares of company stock worth $74,977,422 in the last three months. Insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on TEAM. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and upped their target price for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Mizuho upped their target price on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Oppenheimer upped their price objective on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, Piper Sandler upped their price objective on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Trading Down 4.7 %

Atlassian stock opened at $238.86 on Monday. The firm has a 50-day moving average of $276.11 and a 200-day moving average of $232.69. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. 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 company has a market cap of $62.58 billion, a price-to-earnings ratio of -178.25 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data 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 return on equity of 17.37% and a negative net margin of 7.22%. On average, equities analysts expect that Atlassian Co. will post -0.34 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.