Atlassian Co. (NASDAQ:TEAM) Shares Purchased by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. increased its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 13.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,790 shares of the technology company’s stock after buying an additional 333 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Atlassian were worth $664,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. OFI Invest Asset Management purchased a new stake in Atlassian in the third quarter valued at $26,000. Carmel Capital Partners LLC raised its position in Atlassian by 28.5% in the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after purchasing an additional 57 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its position in Atlassian by 271.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after purchasing an additional 271 shares during the period. Operose Advisors LLC purchased a new stake in Atlassian in the third quarter valued at $99,000. Finally, GAMMA Investing LLC purchased a new stake in Atlassian in the fourth quarter valued at $107,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Stock Down 0.0 %

Shares of NASDAQ:TEAM traded down $0.03 on Friday, hitting $183.52. 1,526,307 shares of the company’s stock were exchanged, compared to its average volume of 1,772,207. The firm’s 50-day moving average is $197.23 and its 200 day moving average is $205.93. The company has a market capitalization of $47.61 billion, a PE ratio of -291.30 and a beta of 0.67. Atlassian Co. has a 1-year low of $128.02 and a 1-year high of $258.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.07 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.40) EPS. Sell-side analysts predict that Atlassian Co. will post -0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. The Goldman Sachs Group lifted their target price on Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. KeyCorp began coverage on Atlassian in a report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Wells Fargo & Company boosted their price objective on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Piper Sandler cut their price objective on Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Finally, William Blair reiterated an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $223.22.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $172.99, for a total value of $1,425,610.59. Following the completion of the sale, the chief executive officer now directly owns 325,245 shares of the company’s stock, valued at approximately $56,264,132.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Gene Liu sold 227 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the sale, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $172.99, for a total value of $1,425,610.59. Following the sale, the chief executive officer now directly owns 325,245 shares of the company’s stock, valued at $56,264,132.55. The disclosure for this sale can be found here. In the last three months, insiders sold 300,450 shares of company stock valued at $60,110,850. 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.