B. Metzler seel. Sohn & Co. AG Increases Stake in Atlassian Co. (NASDAQ:TEAM)

B. Metzler seel. Sohn & Co. AG grew its stake in Atlassian Co. (NASDAQ:TEAM) by 14.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,056 shares of the technology company’s stock after purchasing an additional 870 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Atlassian were worth $1,719,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Corebridge Financial Inc. boosted its holdings in Atlassian by 0.3% during the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company’s stock worth $2,555,000 after buying an additional 35 shares in the last quarter. Assetmark Inc. grew 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 period. Allworth Financial LP increased its stake in shares of Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after purchasing an additional 47 shares in the last quarter. GAMMA Investing LLC raised its holdings in Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after purchasing an additional 54 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in Atlassian by 4.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock worth $357,000 after purchasing an additional 56 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of recent analyst reports. UBS Group cut their price objective on Atlassian from $330.00 to $230.00 and set a “neutral” rating for the company in a research report on Tuesday. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Barclays lifted their target price on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Oppenheimer upped their price target on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company lifted their price objective on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $308.73.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the transaction, the chief executive officer now directly owns 270,232 shares in the company, valued at $87,098,475.92. This represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the transaction, the chief accounting officer now owns 52,710 shares of the company’s stock, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,033 shares of company stock valued at $70,144,394 over the last 90 days. 38.55% of the stock is owned by insiders.

Atlassian Stock Up 3.5 %

Shares of NASDAQ TEAM opened at $223.96 on Thursday. The company has a market capitalization of $58.68 billion, a P/E ratio of -167.13 and a beta of 1.07. 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 50 day simple moving average of $266.94 and a 200-day simple moving average of $239.70. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its 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 return on equity of 17.37% and a negative net margin of 7.22%. On average, equities research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current 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.