Bleakley Financial Group LLC Acquires 876 Shares of Atlassian Co. (NASDAQ:TEAM)

Bleakley Financial Group LLC grew its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 37.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,193 shares of the technology company's stock after acquiring an additional 876 shares during the quarter. Bleakley Financial Group LLC's holdings in Atlassian were worth $777,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Choreo LLC grew its holdings in Atlassian by 7.7% during the fourth quarter. Choreo LLC now owns 10,207 shares of the technology company's stock worth $2,504,000 after buying an additional 734 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Atlassian by 137.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,803 shares of the technology company's stock worth $16,347,000 after buying an additional 38,079 shares in the last quarter. E. Ohman J or Asset Management AB grew its holdings in Atlassian by 9.0% during the fourth quarter. E. Ohman J or Asset Management AB now owns 7,520 shares of the technology company's stock worth $1,830,000 after buying an additional 620 shares in the last quarter. Osborne Partners Capital Management LLC bought a new position in Atlassian in the 4th quarter valued at $292,000. Finally, SYM FINANCIAL Corp bought a new position in Atlassian in the 4th quarter valued at $230,000. Institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of research analyst reports. Cantor Fitzgerald upped their target price on Atlassian from $264.00 to $304.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Canaccord Genuity Group upped their target price on Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Raymond James reiterated an "outperform" rating and set a $330.00 price objective (up from $250.00) on shares of Atlassian in a research report on Friday, January 31st. JMP Securities reiterated a "market perform" rating on shares of Atlassian in a research report on Friday, January 31st. Finally, Jefferies Financial Group increased their price objective on Atlassian from $300.00 to $325.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $319.71.

Insiders Place Their Bets

In other news, CAO Gene Liu sold 165 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total value of $40,563.60. Following the completion of the transaction, the chief accounting officer now owns 56,423 shares in the company, valued at $13,871,030.32. This trade represents a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $243.55, for a total value of $3,871,470.80. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 272,601 shares of company stock worth $72,961,244. 38.55% of the stock is currently owned by company insiders.

Atlassian Trading Down 0.8 %

NASDAQ TEAM traded down $2.45 on Thursday, hitting $316.00. The company's stock had a trading volume of 1,459,831 shares, compared to its average volume of 2,033,703. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.81. The company's 50-day simple moving average is $268.61 and its 200 day simple moving average is $216.16. The firm has a market cap of $82.79 billion, a P/E ratio of -235.82 and a beta of 0.87.

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

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.