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

Wealth Architects LLC purchased a new position in Atlassian Co. (NASDAQ:TEAM) 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:TEAM) 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.

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.