Atlassian Co. (NASDAQ:TEAM) Shares Bought by Biondo Investment Advisors LLC

Biondo Investment Advisors LLC grew its stake in Atlassian Co. (NASDAQ:TEAM) by 1.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 33,372 shares of the technology company’s stock after purchasing an additional 440 shares during the period. Biondo Investment Advisors LLC’s holdings in Atlassian were worth $8,122,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Virtu Financial LLC acquired a new position in Atlassian in the third quarter valued at $606,000. Fulton Bank N.A. acquired a new stake in shares of Atlassian in the 4th quarter valued at about $447,000. Paloma Partners Management Co purchased a new position in Atlassian during the 3rd quarter worth approximately $1,588,000. Allworth Financial LP increased its position in Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after buying an additional 47 shares during the period. Finally, Nordea Investment Management AB lifted its stake in Atlassian by 20.1% in the fourth quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company’s stock valued at $7,458,000 after buying an additional 5,088 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of research reports. UBS Group raised their target price on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Stephens assumed coverage on shares of Atlassian in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $255.00 price objective on the stock. The Goldman Sachs Group upped their target price 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 raised their price target on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Barclays upped their price objective on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Nine equities research 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 company currently has an average rating of “Moderate Buy” and an average target price of $316.77.

Atlassian Price Performance

TEAM stock opened at $217.99 on Friday. The stock has a market capitalization of $57.11 billion, a price-to-earnings ratio of -162.68 and a beta of 0.91. 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 Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The stock’s fifty day simple moving average is $269.28 and its 200-day simple moving average is $238.07.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) 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%. Equities research analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the sale, the president now directly owns 210,471 shares in the company, valued at $54,690,889.35. This represents a 0.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $229.64, for a total value of $1,825,178.72. Following the completion of the transaction, the director now owns 23,844 shares in the company, valued at $5,475,536.16. The trade was a 25.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 263,033 shares of company stock valued at $70,644,164. Insiders own 38.55% of the company’s stock.

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.