Focus Partners Wealth Makes New $756,000 Investment in Atlassian Co. (NASDAQ:TEAM)

Focus Partners Wealth bought a new position in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, Holdings Channel.com reports. The fund bought 3,108 shares of the technology company’s stock, valued at approximately $756,000.

Several other institutional investors and hedge funds have also bought and sold shares of TEAM. Ensign Peak Advisors Inc raised its stake in shares of Atlassian by 167.7% in the fourth quarter. Ensign Peak Advisors Inc now owns 280,824 shares of the technology company’s stock worth $68,347,000 after buying an additional 175,934 shares during the period. Circle Wealth Management LLC raised its stake in shares of Atlassian by 39.6% in the fourth quarter. Circle Wealth Management LLC now owns 6,565 shares of the technology company’s stock worth $1,598,000 after buying an additional 1,863 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Atlassian by 29,445.5% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,000 shares of the technology company’s stock worth $15,820,000 after buying an additional 64,780 shares during the period. Durable Capital Partners LP raised its stake in shares of Atlassian by 499.7% in the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company’s stock worth $383,456,000 after buying an additional 1,312,820 shares during the period. Finally, Colonial Trust Co SC raised its stake in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after buying an additional 69 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TEAM. Wells Fargo & Company decreased their price objective on Atlassian from $330.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. UBS Group decreased their price objective on Atlassian from $230.00 to $215.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. KeyCorp decreased their target price on Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Finally, Canaccord Genuity Group decreased their target price on Atlassian from $300.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $285.29.

Atlassian Stock Performance

NASDAQ:TEAM opened at $220.79 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The stock’s 50 day simple moving average is $213.63 and its two-hundred day simple moving average is $247.20. The company has a market cap of $57.96 billion, a price-to-earnings ratio of -164.77 and a beta of 1.06.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the company posted $0.89 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $185.61, for a total value of $1,475,228.28. Following the completion of the transaction, the director now owns 333,816 shares in the company, valued at approximately $61,959,587.76. The trade was a 2.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph Leo Binz sold 3,027 shares of Atlassian stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $682,618.77. Following the completion of the transaction, the chief financial officer now owns 164,559 shares of the company’s stock, valued at approximately $37,109,700.09. This trade represents a 1.81% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 267,301 shares of company stock worth $60,975,089. 38.55% of the stock is currently owned by company insiders.

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.