Atria Wealth Solutions Inc. Takes $4.90 Million Position in Atlassian Co. (NASDAQ:TEAM)

Atria Wealth Solutions Inc. purchased a new stake in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 20,114 shares of the technology company’s stock, valued at approximately $4,895,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TEAM. True Wealth Design LLC increased its stake in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares during the last quarter. Avion Wealth increased its stake in shares of Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of Atlassian in the 3rd quarter valued at $48,000. Brown Brothers Harriman & Co. increased its stake in shares of Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 82 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Stock Down 3.7 %

Shares of NASDAQ:TEAM opened at $303.72 on Thursday. The stock’s 50-day moving average price is $272.45 and its 200-day moving average price is $221.16. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The stock has a market capitalization of $79.57 billion, a P/E ratio of -226.66 and a beta of 0.87. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) 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%. On average, equities analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TEAM. The Goldman Sachs Group boosted their price objective on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Barclays upped their price target on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and set a $330.00 price target (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Oppenheimer upped their target price on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Finally, Morgan Stanley increased their target price on Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $319.71.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the sale, the president now directly owns 211,991 shares of the company’s stock, valued at approximately $54,006,827.16. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $313.95, for a total value of $2,495,274.60. Following the sale, the chief executive officer now directly owns 230,492 shares in the company, valued at approximately $72,362,963.40. The trade was a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 273,778 shares of company stock valued at $74,688,580 over the last ninety days. 38.55% of the stock is owned by 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.