Wealth Architects LLC Makes New $260,000 Investment in Atlassian Co. (NASDAQ:TEAM)

Wealth Architects LLC purchased a new position in Atlassian Co. (NASDAQ:TEAMFree Report) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,067 shares of the technology company’s stock, valued at approximately $260,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Avion Wealth grew its holdings in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after purchasing an additional 157 shares during the last quarter. Assetmark Inc. grew its holdings in Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares during the last quarter. Mainstream Capital Management LLC purchased a new position in Atlassian in the fourth quarter worth $49,000. True Wealth Design LLC grew its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new position in Atlassian in the fourth quarter worth $56,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Gene Liu sold 779 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total transaction of $249,287.79. Following the completion of the transaction, the chief accounting officer now owns 52,710 shares in the company, valued at $16,867,727.10. This represents a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the transaction, the chief executive officer now owns 429,192 shares of the company’s stock, valued at approximately $104,529,711.60. This trade represents a 3.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 264,553 shares of company stock worth $71,956,546. Company insiders own 38.55% of the company’s stock.

Atlassian Trading Up 1.2 %

Shares of Atlassian stock opened at $220.98 on Tuesday. The firm has a 50-day simple moving average of $272.77 and a two-hundred day simple moving average of $235.08. The company has a market cap of $57.90 billion, a P/E ratio of -164.91 and a beta of 0.91. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAMGet Free Report) last issued its quarterly earnings data 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 return on equity of 17.37% and a negative net margin of 7.22%. As a group, equities analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TEAM shares. Wells Fargo & Company lifted their price target on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group boosted their price objective on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Mizuho boosted their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Cantor Fitzgerald boosted their price objective on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $255.00 to $292.00 in a report on Friday, January 10th. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Get Our Latest Analysis on TEAM

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.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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