Hills Bank & Trust Co Buys 878 Shares of Atlassian Co. (NASDAQ:TEAM)

Hills Bank & Trust Co increased its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 96.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,787 shares of the technology company’s stock after purchasing an additional 878 shares during the quarter. Hills Bank & Trust Co’s holdings in Atlassian were worth $284,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TEAM. Hollencrest Capital Management boosted its position in Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares during the last quarter. Asset Dedication LLC boosted its holdings in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Trust Co. of Vermont increased its position in Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC bought a new stake in Atlassian during the 2nd quarter worth about $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in Atlassian during the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of several analyst reports. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Capital One Financial raised Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a research note on Thursday, July 11th. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Morgan Stanley increased their target price on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Piper Sandler boosted their target price on Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.16.

Atlassian Stock Up 19.0 %

Shares of Atlassian stock opened at $224.35 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. The firm has a market cap of $58.34 billion, a PE ratio of -147.60 and a beta of 0.71. The business’s 50 day simple moving average is $173.30 and its 200 day simple moving average is $171.46.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.38%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm earned ($0.21) earnings per share. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. On average, analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the sale, the president now owns 143,966 shares in the company, valued at approximately $23,482,294.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $192.56, for a total value of $1,530,466.88. Following the completion of the transaction, the chief executive officer now owns 333,816 shares of the company’s stock, valued at $64,279,608.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now owns 143,966 shares in the company, valued at $23,482,294.26. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 230,185 shares of company stock worth $39,155,661 in the last three months. 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.