Gladstone Institutional Advisory LLC Acquires New Shares in Atlassian Co. (NASDAQ:TEAM)

Gladstone Institutional Advisory LLC bought a new position in Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,369 shares of the technology company's stock, valued at approximately $577,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in TEAM. Virtu Financial LLC bought a new stake in Atlassian in the third quarter valued at $606,000. Sequoia Financial Advisors LLC boosted its holdings in Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company's stock valued at $306,000 after acquiring an additional 520 shares in the last quarter. Fulton Bank N.A. bought a new stake in Atlassian in the fourth quarter valued at $447,000. Paloma Partners Management Co bought a new stake in Atlassian in the third quarter valued at $1,588,000. Finally, Impax Asset Management Group plc boosted its holdings in Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company's stock valued at $5,940,000 after acquiring an additional 31,986 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

TEAM has been the subject of several recent research reports. Piper Sandler raised their price objective on Atlassian from $310.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. The Goldman Sachs Group boosted their target price on Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Citigroup boosted their price target on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, January 17th. JMP Securities restated a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Morgan Stanley boosted their price objective on Atlassian from $315.00 to $370.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $319.71.

Insider Buying and Selling at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $244.81, for a total transaction of $1,945,749.88. Following the completion of the transaction, the director now directly owns 214,596 shares of the company's stock, valued at approximately $52,535,246.76. This represents a 3.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the transaction, the chief executive officer now directly owns 429,192 shares of the company's stock, valued at approximately $104,529,711.60. This trade represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 273,778 shares of company stock valued at $74,139,055 in the last ninety days. Insiders own 38.55% of the company's stock.

Atlassian Stock Up 0.6 %

Shares of NASDAQ:TEAM traded up $1.91 on Tuesday, hitting $315.01. 929,200 shares of the company's stock were exchanged, compared to its average volume of 2,023,777. The company has a market capitalization of $82.53 billion, a PE ratio of -235.43 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.18 and a current ratio of 1.24. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The firm's 50-day moving average is $270.89 and its 200 day moving average is $219.37.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its 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 net margin of 7.22% and a negative return on equity of 17.37%. Sell-side analysts predict that Atlassian Co. will post -0.34 EPS 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.