Decker Retirement Planning Inc. Purchases New Stake in Atlassian Co. (NASDAQ:TEAM)

Decker Retirement Planning Inc. purchased a new stake in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,973 shares of the technology company’s stock, valued at approximately $4,374,000. Atlassian makes up approximately 2.5% of Decker Retirement Planning Inc.’s portfolio, making the stock its 15th largest position.

Several other institutional investors have also recently added to or reduced their stakes in TEAM. Federated Hermes Inc. bought a new stake in Atlassian during the second quarter valued at $444,000. J.W. Cole Advisors Inc. bought a new stake in Atlassian during the second quarter valued at $281,000. Dimensional Fund Advisors LP increased its stake in Atlassian by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 150,393 shares of the technology company’s stock valued at $26,597,000 after purchasing an additional 5,878 shares during the last quarter. Amalgamated Bank increased its stake in Atlassian by 3.5% during the second quarter. Amalgamated Bank now owns 10,608 shares of the technology company’s stock valued at $1,876,000 after purchasing an additional 363 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Atlassian by 4.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,389 shares of the technology company’s stock valued at $1,830,000 after purchasing an additional 440 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TEAM has been the subject of several recent research reports. Piper Sandler boosted their target price on shares of Atlassian from $265.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company upped their price target on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Raymond James upped their price target on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Morgan Stanley upped their price target on shares of Atlassian from $259.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Truist Financial upgraded shares of Atlassian from a “hold” rating to a “buy” rating and upped their price target for the stock from $250.00 to $300.00 in a research report on Tuesday, January 7th. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $270.33.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the transaction, the chief executive officer now owns 429,192 shares in the company, valued at $104,529,711.60. This represents a 3.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Heather Mirjahangir Fernandez sold 3,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $275.00, for a total value of $825,000.00. Following the completion of the transaction, the director now owns 5,610 shares in the company, valued at $1,542,750. This represents a 34.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 270,668 shares of company stock valued at $65,408,691. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $254.25 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97. The company has a market capitalization of $66.21 billion, a price-to-earnings ratio of -167.27 and a beta of 0.83. The firm has a 50-day moving average of $256.07 and a two-hundred day moving average of $201.44.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the firm earned ($0.07) earnings per share. The business’s quarterly revenue was up 21.5% on a year-over-year basis. As a group, analysts expect that Atlassian Co. will post -0.55 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.