910 Shares in Atlassian Co. (NASDAQ:TEAM) Acquired by Wedmont Private Capital

Wedmont Private Capital bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM) in the 4th quarter, Holdings Channel.com reports. The fund bought 910 shares of the technology company’s stock, valued at approximately $221,000.

Several other institutional investors have also recently modified their holdings of TEAM. Dragoneer Investment Group LLC purchased a new position in Atlassian in the 2nd quarter valued at about $469,803,000. Point72 Asset Management L.P. raised its position in shares of Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after buying an additional 617,566 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Atlassian by 122.0% in the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after buying an additional 551,500 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Atlassian during the third quarter valued at approximately $57,149,000. Finally, Parnassus Investments LLC boosted its position in Atlassian by 322.9% during the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after acquiring an additional 245,286 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

TEAM stock opened at $252.36 on Friday. The firm has a market cap of $65.72 billion, a P/E ratio of -166.03 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $287.97. The stock has a 50-day simple moving average of $256.36 and a 200-day simple moving average of $201.95.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. Atlassian’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) EPS. On average, equities analysts predict that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TEAM shares. Morgan Stanley boosted their price target on Atlassian from $259.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial upgraded Atlassian from a “hold” rating to a “buy” rating and upped their target price for the company from $250.00 to $300.00 in a research note on Tuesday, January 7th. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Macquarie initiated coverage on shares of Atlassian in a research note on Thursday, December 12th. They set a “neutral” rating and a $290.00 price objective for the company. Finally, KeyCorp increased their price objective on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. 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.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $272.00.

Insider Activity at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 4,560 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the completion of the transaction, the president now directly owns 224,436 shares of the company’s stock, valued at $50,599,096.20. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $219.07, for a total transaction of $1,741,168.36. Following the completion of the sale, the director now owns 309,972 shares in the company, valued at approximately $67,905,566.04. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 280,136 shares of company stock valued at $67,814,587. Corporate 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.