Advisory Services Network LLC Buys 3,576 Shares of Atlassian Co. (NASDAQ:TEAM)

Advisory Services Network LLC grew its position in Atlassian Co. (NASDAQ:TEAMFree Report) by 37.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 13,058 shares of the technology company’s stock after purchasing an additional 3,576 shares during the period. Advisory Services Network LLC’s holdings in Atlassian were worth $3,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Graypoint LLC grew its holdings in Atlassian by 2.4% during the fourth quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock valued at $424,000 after purchasing an additional 42 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in shares of Atlassian by 1.4% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock worth $736,000 after acquiring an additional 43 shares in the last quarter. Park National Corp OH raised its position in shares of Atlassian by 3.5% during the fourth quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock worth $342,000 after purchasing an additional 48 shares during the period. UMB Bank n.a. lifted its holdings in shares of Atlassian by 5.7% during the 4th quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock valued at $248,000 after purchasing an additional 56 shares in the last quarter. Finally, Personal CFO Solutions LLC grew its position in shares of Atlassian by 1.0% in the 3rd quarter. Personal CFO Solutions LLC now owns 6,136 shares of the technology company’s stock valued at $1,236,000 after purchasing an additional 59 shares during the period. 93.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. KeyCorp assumed coverage on shares of Atlassian in a research note on Tuesday, March 19th. They issued a “sector weight” rating on the stock. The Goldman Sachs Group upped their target price on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Piper Sandler dropped their price target on Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. UBS Group reduced their price objective on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Finally, William Blair reissued an “outperform” rating on shares of Atlassian in a research 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, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $223.22.

Read Our Latest Report on Atlassian

Insider Activity

In related news, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $207.85, for a total transaction of $1,712,891.85. Following the transaction, the chief executive officer now directly owns 156,579 shares of the company’s stock, valued at approximately $32,544,945.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $207.85, for a total value of $1,712,891.85. Following the transaction, the chief executive officer now owns 156,579 shares in the company, valued at approximately $32,544,945.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Rajeev Bashyam Rajan sold 1,360 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $184.26, for a total value of $250,593.60. Following the completion of the transaction, the chief technology officer now directly owns 134,260 shares in the company, valued at approximately $24,738,747.60. The disclosure for this sale can be found here. Insiders sold a total of 292,367 shares of company stock valued at $56,237,160 over the last three months. Insiders own 40.48% of the company’s stock.

Atlassian Stock Performance

NASDAQ TEAM opened at $168.86 on Monday. The firm has a market capitalization of $43.95 billion, a P/E ratio of -268.03 and a beta of 0.67. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. The firm’s fifty day moving average price is $189.37 and its two-hundred day moving average price is $205.96. Atlassian Co. has a 1 year low of $156.44 and a 1 year high of $258.69.

Atlassian (NASDAQ:TEAMGet Free Report) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the firm earned ($0.40) EPS. Atlassian’s quarterly revenue was up 29.9% compared to the same quarter last year. As a group, research analysts anticipate that Atlassian Co. will post -0.23 EPS for the current year.

About Atlassian

(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.

Read More

Want to see what other hedge funds are holding TEAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlassian Co. (NASDAQ:TEAMFree Report).

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with MarketBeat.com's FREE daily email newsletter.