Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. boosted its position in Atlassian Co. (NASDAQ:TEAM) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,885 shares of the technology company’s stock after purchasing an additional 59 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Atlassian were worth $448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in shares of Atlassian in the third quarter valued at approximately $26,000. Carmel Capital Partners LLC increased its stake in shares of Atlassian by 28.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after acquiring an additional 57 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Atlassian by 271.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after acquiring an additional 271 shares during the last quarter. Operose Advisors LLC purchased a new position in shares of Atlassian during the 3rd quarter worth $99,000. Finally, GAMMA Investing LLC acquired a new position in shares of Atlassian during the 4th quarter valued at about $107,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $181.77 on Tuesday. The stock’s 50-day moving average is $196.77 and its two-hundred day moving average is $205.99. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $47.31 billion, a price-to-earnings ratio of -288.52 and a beta of 0.67. Atlassian Co. has a 1-year low of $128.02 and a 1-year high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm earned ($0.40) earnings per share. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. Analysts forecast that Atlassian Co. will post -0.29 EPS for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $218.32, for a total transaction of $1,799,175.12. Following the completion of the sale, the chief executive officer now directly owns 263,712 shares of the company’s stock, valued at approximately $57,573,603.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction on Friday, April 19th. The shares were sold at an average price of $193.63, for a total value of $147,158.80. Following the transaction, the president now directly owns 162,610 shares of the company’s stock, valued at approximately $31,486,174.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $218.32, for a total transaction of $1,799,175.12. Following the completion of the sale, the chief executive officer now directly owns 263,712 shares of the company’s stock, valued at $57,573,603.84. The disclosure for this sale can be found here. Insiders have sold 300,450 shares of company stock valued at $59,897,078 over the last quarter. 40.48% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on TEAM shares. Piper Sandler reduced their target price on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Wells Fargo & Company lifted their price target on shares of Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. KeyCorp initiated coverage on Atlassian in a research report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Canaccord Genuity Group reduced their target price on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Finally, Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $235.00 to $275.00 in a report on Thursday, April 11th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $223.22.

About Atlassian

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.