Atlassian Co. (NASDAQ:TEAM) Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC boosted its stake in shares of Atlassian Co. (NASDAQ:TEAMFree Report) by 17.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,502 shares of the technology company’s stock after purchasing an additional 228 shares during the period. HB Wealth Management LLC’s holdings in Atlassian were worth $366,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC raised its position in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the period. GAMMA Investing LLC increased its stake in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of Atlassian in the 3rd quarter worth about $48,000. Quarry LP lifted its stake in shares of Atlassian by 143.8% in the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after purchasing an additional 220 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TEAM. KeyCorp lifted their price target on shares of Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Piper Sandler upped their price target on shares of Atlassian from $265.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Cantor Fitzgerald began coverage on Atlassian in a research report on Friday, January 17th. They issued a “neutral” rating and a $264.00 price objective on the stock. Macquarie began coverage on Atlassian in a research report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 target price for the company. Finally, UBS Group increased their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $272.00.

Check Out Our Latest Stock Analysis on Atlassian

Insider Buying and Selling at Atlassian

In other Atlassian news, CAO Gene Liu sold 1,024 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $230,860.80. Following the transaction, the chief accounting officer now owns 59,168 shares of the company’s stock, valued at $13,339,425.60. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $255.71, for a total value of $2,032,383.08. Following the transaction, the director now directly owns 381,504 shares of the company’s stock, valued at $97,554,387.84. This trade represents a 2.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 264,240 shares of company stock worth $65,312,715 over the last 90 days. Insiders own 38.55% of the company’s stock.

Atlassian Stock Up 1.9 %

NASDAQ:TEAM opened at $265.70 on Friday. The stock has a 50-day simple moving average of $256.87 and a 200 day simple moving average of $203.61. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97. The company has a market capitalization of $69.20 billion, a price-to-earnings ratio of -174.80 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAMGet Free Report) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business’s revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.07) EPS. Sell-side analysts predict that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Atlassian Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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