Ashton Thomas Private Wealth LLC Invests $326,000 in Atlassian Co. (NASDAQ:TEAM)

Ashton Thomas Private Wealth LLC acquired a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,338 shares of the technology company's stock, valued at approximately $326,000.

Other institutional investors have also modified their holdings of the company. Avion Wealth lifted its position in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after purchasing an additional 157 shares during the last quarter. Assetmark Inc. raised its stake in Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after acquiring an additional 41 shares in the last quarter. Mainstream Capital Management LLC acquired a new stake in Atlassian during the 4th quarter worth $49,000. True Wealth Design LLC raised its stake in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock worth $37,000 after acquiring an additional 231 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in Atlassian during the 4th quarter worth $56,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 15,896 shares of the business's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the sale, the chief executive officer now owns 429,192 shares of the company's stock, valued at approximately $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Gene Liu sold 779 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the sale, the chief accounting officer now directly owns 52,710 shares in the company, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 272,501 shares of company stock valued at $74,569,690. Corporate insiders own 38.55% of the company's stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several research analyst reports. Oppenheimer lifted their price target on shares of Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. The Goldman Sachs Group lifted their price target on shares of Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Cantor Fitzgerald lifted their price target on shares of Atlassian from $264.00 to $304.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Citigroup lifted their price target on shares of Atlassian from $255.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, January 17th. Finally, UBS Group lifted their price objective on shares of Atlassian from $275.00 to $330.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $319.71.

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Atlassian Stock Up 3.8 %

Shares of NASDAQ:TEAM opened at $224.10 on Wednesday. The company has a market cap of $58.71 billion, a price-to-earnings ratio of -167.24 and a beta of 0.91. The firm's 50-day simple moving average is $275.10 and its 200-day simple moving average is $233.57. 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 fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) 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%. As a group, equities research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Atlassian Company 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.

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