Atlassian Co. (NASDAQ:TEAM) Shares Bought by TD Private Client Wealth LLC

TD Private Client Wealth LLC raised its stake in Atlassian Co. (NASDAQ:TEAM) by 9,292.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,862 shares of the technology company’s stock after buying an additional 9,757 shares during the quarter. TD Private Client Wealth LLC’s holdings in Atlassian were worth $2,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in Atlassian during the third quarter worth $606,000. Fulton Bank N.A. acquired a new position in shares of Atlassian during the 4th quarter worth $447,000. Paloma Partners Management Co purchased a new stake in shares of Atlassian in the 3rd quarter worth about $1,588,000. Allworth Financial LP grew its stake in Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after acquiring an additional 47 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Atlassian by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 583,579 shares of the technology company’s stock valued at $92,678,000 after acquiring an additional 12,422 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TEAM shares. Wells Fargo & Company increased their price target on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Canaccord Genuity Group increased their target price on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. Macquarie boosted their price target on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Stephens started coverage on Atlassian in a research report on Wednesday. They issued an “equal weight” rating and a $255.00 price objective on the stock. Finally, Cantor Fitzgerald lifted their price objective on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $316.77.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $226.93, for a total transaction of $1,803,639.64. Following the completion of the sale, the chief executive officer now owns 55,636 shares in the company, valued at $12,625,477.48. This trade represents a 12.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the transaction, the president now directly owns 210,471 shares in the company, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock worth $71,015,177 in the last 90 days. 38.55% of the stock is owned by company insiders.

Atlassian Stock Performance

Shares of TEAM stock opened at $227.34 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a market cap of $59.56 billion, a PE ratio of -169.66 and a beta of 0.91. The company’s fifty day simple moving average is $271.24 and its 200-day simple moving average is $235.79. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. As a group, equities research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

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.