Ashton Thomas Private Wealth LLC Purchases Shares of 1,338 Atlassian Co. (NASDAQ:TEAM)

Ashton Thomas Private Wealth LLC purchased a new stake in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,338 shares of the technology company’s stock, valued at approximately $326,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Baillie Gifford & Co. raised its position in shares of Atlassian by 0.9% in the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after buying an additional 78,454 shares during the last quarter. State Street Corp raised its position in shares of Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after buying an additional 8,957 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after buying an additional 131,621 shares during the last quarter. FMR LLC raised its position in shares of Atlassian by 7.4% in the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after buying an additional 150,237 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Atlassian by 2.8% in the third quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock valued at $340,453,000 after buying an additional 57,911 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of analyst reports. UBS Group boosted their price objective 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. Barclays boosted their price objective on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Citigroup upped their price target on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Oppenheimer upped their price target on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Atlassian Price Performance

TEAM opened at $224.10 on Wednesday. The company has a fifty day simple moving average of $275.10 and a 200 day simple moving average of $233.57. The firm has a market cap of $58.71 billion, a price-to-earnings ratio of -167.24 and a beta of 0.91. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

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

Insider Activity at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $258.33, for a total transaction of $2,053,206.84. Following the completion of the transaction, the director now directly owns 63,584 shares of the company’s stock, valued at $16,425,654.72. This trade represents a 11.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the transaction, the president now directly owns 211,991 shares of the company’s stock, valued at approximately $54,006,827.16. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 272,501 shares of company stock valued at $74,569,690. Corporate insiders own 38.55% of the company’s stock.

Atlassian Company 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.