Nia Impact Advisors LLC Makes New $3.48 Million Investment in Atlassian Co. (NASDAQ:TEAM)

Nia Impact Advisors LLC acquired a new position in shares of Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 14,310 shares of the technology company’s stock, valued at approximately $3,483,000. Atlassian accounts for approximately 1.1% of Nia Impact Advisors LLC’s investment portfolio, making the stock its 28th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Corebridge Financial Inc. grew its holdings in shares of Atlassian by 0.3% in the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company’s stock valued at $2,555,000 after acquiring an additional 35 shares in the last quarter. GeoWealth Management LLC grew its holdings in shares of Atlassian by 26.8% in the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company’s stock valued at $44,000 after acquiring an additional 38 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after acquiring an additional 41 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after acquiring an additional 47 shares in the last quarter. Finally, Covenant Partners LLC grew its holdings in shares of Atlassian by 4.2% in the fourth quarter. Covenant Partners LLC now owns 1,328 shares of the technology company’s stock valued at $323,000 after acquiring an additional 53 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $283.26, for a total transaction of $2,251,350.48. Following the sale, the director now owns 198,700 shares in the company, valued at $56,283,762. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Gene Liu sold 568 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $312.08, for a total value of $177,261.44. Following the sale, the chief accounting officer now owns 52,142 shares in the company, valued at $16,272,475.36. The trade was a 1.08% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 252,786 shares of company stock worth $58,795,052. Corporate insiders own 38.55% of the company’s stock.

Atlassian Trading Up 2.6%

NASDAQ:TEAM opened at $229.52 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The company has a market cap of $60.13 billion, a P/E ratio of -171.28 and a beta of 1.06. The stock’s fifty day moving average price is $214.30 and its two-hundred day moving average price is $246.65.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the business posted $0.89 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. As a group, analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TEAM shares. Canaccord Genuity Group reduced their target price on Atlassian from $300.00 to $255.00 and set a “buy” rating for the company in a report on Friday, May 2nd. BMO Capital Markets reduced their price objective on Atlassian from $295.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Stephens reduced their price objective on Atlassian from $255.00 to $221.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. Baird R W raised Atlassian from a “hold” rating to a “strong-buy” rating in a report on Monday, April 14th. Finally, Barclays reduced their price objective on Atlassian from $350.00 to $260.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $285.29.

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.