Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC grew its stake in Atlassian Co. (NASDAQ:TEAM) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,364 shares of the technology company’s stock after acquiring an additional 320 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Atlassian were worth $1,752,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TEAM. OFI Invest Asset Management acquired a new stake in shares of Atlassian during the 3rd quarter worth about $26,000. Tyler Stone Wealth Management acquired a new stake in Atlassian during the second quarter worth approximately $34,000. Meeder Asset Management Inc. grew its stake in Atlassian by 151.5% in the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock worth $31,000 after acquiring an additional 147 shares during the period. Carmel Capital Partners LLC raised its holdings 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 acquiring an additional 57 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Atlassian during the 2nd quarter worth $44,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TEAM. The Goldman Sachs Group lifted their price objective on Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Capital One Financial started coverage on shares of Atlassian in a research report on Monday, December 18th. They issued an “equal weight” rating and a $238.00 target price on the stock. KeyCorp initiated coverage on shares of Atlassian in a report on Tuesday, March 19th. They issued a “sector weight” rating for the company. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. Finally, Truist Financial boosted their price objective on shares of Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a research note on Tuesday, January 16th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Atlassian currently has a consensus rating of “Hold” and a consensus target price of $224.25.

Atlassian Trading Down 7.1 %

NASDAQ TEAM opened at $191.84 on Tuesday. The stock has a market cap of $49.77 billion, a P/E ratio of -128.75 and a beta of 0.63. The company’s fifty day simple moving average is $203.83 and its 200-day simple moving average is $206.83. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. Equities research analysts predict that Atlassian Co. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $192.21, for a total value of $1,584,002.61. Following the sale, the chief executive officer now owns 24,723 shares in the company, valued at approximately $4,752,007.83. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CTO Rajeev Bashyam Rajan sold 872 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $185,622.64. Following the sale, the chief technology officer now directly owns 142,103 shares in the company, valued at approximately $30,249,465.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $192.21, for a total value of $1,584,002.61. Following the transaction, the chief executive officer now owns 24,723 shares of the company’s stock, valued at approximately $4,752,007.83. The disclosure for this sale can be found here. Insiders have sold a total of 293,159 shares of company stock valued at $62,026,607 in the last three months. Corporate insiders own 40.48% 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.