Y Intercept Hong Kong Ltd Grows Stake in Atlassian Co. (NASDAQ:TEAM)

Y Intercept Hong Kong Ltd increased its holdings in Atlassian Co. (NASDAQ:TEAM) by 64.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,292 shares of the technology company’s stock after buying an additional 12,239 shares during the period. Atlassian accounts for approximately 0.5% of Y Intercept Hong Kong Ltd’s portfolio, making the stock its 15th largest holding. Y Intercept Hong Kong Ltd’s holdings in Atlassian were worth $7,616,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. True Wealth Design LLC grew its holdings in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares in the last quarter. Avion Wealth grew its stake in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after buying an additional 157 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of Atlassian in the 3rd quarter worth $48,000. Kestra Investment Management LLC purchased a new stake in shares of Atlassian during the 4th quarter valued at $56,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after acquiring an additional 82 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Stock Down 4.2 %

Shares of NASDAQ TEAM opened at $285.99 on Monday. The firm has a fifty day simple moving average of $272.98 and a two-hundred day simple moving average of $223.88. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $74.93 billion, a PE ratio of -213.42 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Equities analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. JMP Securities restated a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Citigroup upped their target price on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Scotiabank lifted their price target on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Finally, Cantor Fitzgerald upped their price objective on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $236.89, for a total value of $1,882,801.72. Following the sale, the chief executive officer now directly owns 421,244 shares of the company’s stock, valued at $99,788,491.16. This represents a 1.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $254.76, for a total transaction of $387,235.20. Following the transaction, the president now directly owns 211,991 shares of the company’s stock, valued at approximately $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 275,501 shares of company stock valued at $75,480,290. Corporate insiders own 38.55% of the company’s stock.

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.