Choreo LLC Grows Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Choreo LLC increased its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,764 shares of the technology company’s stock after buying an additional 180 shares during the quarter. Choreo LLC’s holdings in Atlassian were worth $2,085,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Graypoint LLC boosted its holdings in Atlassian by 2.4% in the 4th quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock valued at $424,000 after purchasing an additional 42 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in Atlassian by 1.4% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock valued at $736,000 after purchasing an additional 43 shares in the last quarter. Park National Corp OH boosted its holdings in Atlassian by 3.5% in the 4th quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock valued at $342,000 after purchasing an additional 48 shares in the last quarter. UMB Bank n.a. boosted its holdings in Atlassian by 5.7% in the 4th quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock valued at $248,000 after purchasing an additional 56 shares in the last quarter. Finally, Carmel Capital Partners LLC boosted its holdings in Atlassian by 28.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $178.95, for a total value of $1,474,726.95. Following the completion of the sale, the chief executive officer now directly owns 349,968 shares of the company’s stock, valued at approximately $62,626,773.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $178.95, for a total value of $1,474,726.95. Following the completion of the sale, the chief executive officer now directly owns 349,968 shares of the company’s stock, valued at approximately $62,626,773.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $193.63, for a total transaction of $147,158.80. Following the completion of the sale, the president now directly owns 162,610 shares of the company’s stock, valued at $31,486,174.30. The disclosure for this sale can be found here. In the last three months, insiders sold 300,450 shares of company stock valued at $61,106,939. Company insiders own 40.48% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of analyst reports. Citigroup lowered their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Oppenheimer lowered their price objective on Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday. Mizuho reduced their price target on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Friday. Truist Financial reduced their price target on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday. Finally, William Blair reiterated an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $223.22.

Atlassian Trading Down 1.3 %

Shares of Atlassian stock opened at $177.07 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. Atlassian Co. has a 1 year low of $128.02 and a 1 year high of $258.69. The company has a market capitalization of $45.93 billion, a P/E ratio of -281.06 and a beta of 0.63. The business has a 50 day moving average price of $199.36 and a 200 day moving average price of $206.52.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.40) EPS. Sell-side analysts anticipate that Atlassian Co. will post -0.42 EPS 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.