Allworth Financial LP Increases Stake in Atlassian Co. (NASDAQ:TEAM)

Allworth Financial LP lifted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 3.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,548 shares of the technology company’s stock after buying an additional 47 shares during the quarter. Allworth Financial LP’s holdings in Atlassian were worth $404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of TEAM. Creative Planning increased its position in shares of Atlassian by 32.3% during the third quarter. Creative Planning now owns 7,947 shares of the technology company’s stock valued at $1,262,000 after buying an additional 1,941 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of Atlassian by 37.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after buying an additional 520 shares during the period. Signaturefd LLC increased its position in shares of Atlassian by 4.8% during the third quarter. Signaturefd LLC now owns 2,411 shares of the technology company’s stock valued at $383,000 after buying an additional 111 shares during the period. Eastern Bank purchased a new position in shares of Atlassian during the third quarter valued at about $217,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Atlassian during the third quarter valued at about $97,350,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Down 4.2 %

Shares of Atlassian stock opened at $285.99 on Friday. The company has a market cap of $74.93 billion, a price-to-earnings ratio of -213.42 and a beta of 0.87. The company’s 50 day moving average is $272.83 and its 200 day moving average is $221.70. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a quick ratio of 1.24, a current 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 the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TEAM shares. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Jefferies Financial Group upped their price objective on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Mizuho upped their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. The Goldman Sachs Group increased their price target on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Cantor Fitzgerald increased their price target on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $297.51, for a total value of $2,364,609.48. Following the transaction, the chief executive officer now directly owns 214,596 shares in the company, valued at approximately $63,844,455.96. This trade represents a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Gene Liu sold 779 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was 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. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 283,449 shares of company stock worth $77,580,151. Company insiders own 38.55% of the company’s stock.

Atlassian 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.