Transcend Capital Advisors LLC Makes New $305,000 Investment in Atlassian Co. (NASDAQ:TEAM)

Transcend Capital Advisors LLC bought a new position in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,252 shares of the technology company’s stock, valued at approximately $305,000.

Other institutional investors have also bought and sold shares of the company. True Wealth Design LLC lifted its stake in 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 purchasing an additional 231 shares in the last quarter. Avion Wealth lifted its stake in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after purchasing an additional 157 shares in the last quarter. Reston Wealth Management LLC purchased a new position in Atlassian in the 3rd quarter worth approximately $48,000. Kestra Investment Management LLC purchased a new position in Atlassian in the 4th quarter worth approximately $56,000. Finally, Brown Brothers Harriman & Co. lifted its stake in Atlassian by 23.2% in 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. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on TEAM shares. Macquarie lifted their price target on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Morgan Stanley lifted their price target on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Oppenheimer lifted their price target on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Robert W. Baird lifted their price target on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, UBS Group lifted their price target on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 1,723 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total transaction of $526,962.32. Following the completion of the transaction, the president now owns 199,934 shares in the company, valued at approximately $61,147,814.56. The trade was a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $236.89, for a total transaction of $1,882,801.72. Following the transaction, the chief executive officer now owns 421,244 shares of the company’s stock, valued at approximately $99,788,491.16. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 275,501 shares of company stock worth $75,480,290. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $285.99 on Monday. The company has a fifty day simple moving average of $272.98 and a two-hundred day simple moving average of $223.88. The company has a market cap of $74.93 billion, a price-to-earnings ratio of -213.42 and a beta of 0.87. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, equities analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.