CNB Bank Purchases 71 Shares of Atlassian Co. (NASDAQ:TEAM)

CNB Bank boosted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,545 shares of the technology company’s stock after purchasing an additional 71 shares during the quarter. CNB Bank’s holdings in Atlassian were worth $367,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in Atlassian during the third quarter worth about $26,000. Tyler Stone Wealth Management acquired a new position in shares of Atlassian during the second quarter worth approximately $34,000. Meeder Asset Management Inc. raised its position in shares of Atlassian by 151.5% during the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock worth $31,000 after purchasing an additional 147 shares during the period. Carmel Capital Partners LLC raised its position 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 buying an additional 57 shares during the last quarter. Finally, Quarry LP purchased a new stake in Atlassian in the 2nd quarter valued at $44,000. 93.03% of the stock is owned by institutional investors.

Atlassian Stock Down 1.1 %

TEAM traded down $2.06 on Friday, reaching $191.55. The company’s stock had a trading volume of 1,769,243 shares, compared to its average volume of 1,464,101. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The stock has a 50 day moving average of $201.83 and a two-hundred day moving average of $206.53. The company has a market capitalization of $49.69 billion, a price-to-earnings ratio of -128.56 and a beta of 0.63.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. As a group, analysts forecast that Atlassian Co. will post -0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TEAM has been the subject of several research analyst reports. KeyCorp assumed coverage on Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating for the company. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Truist Financial raised their price objective on Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. The Goldman Sachs Group lifted their price target on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Finally, Mizuho decreased their price target on Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $224.25.

Insider Buying and Selling

In related news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the sale, the chief executive officer now directly owns 346,122 shares in the company, valued at approximately $87,752,310.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Gene Liu sold 227 shares of Atlassian stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the transaction, the chief accounting officer now owns 47,066 shares in the company, valued at approximately $10,018,939.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $253.53, for a total value of $2,089,340.73. Following the transaction, the chief executive officer now owns 346,122 shares of the company’s stock, valued at approximately $87,752,310.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 298,930 shares of company stock worth $62,707,908. 40.48% of the stock is owned by company insiders.

Atlassian Company 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.