Independent Advisor Alliance Raises Stake in Atlassian Co. (NASDAQ:TEAM)

Independent Advisor Alliance increased its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 45.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,360 shares of the technology company's stock after purchasing an additional 1,370 shares during the period. Independent Advisor Alliance's holdings in Atlassian were worth $1,061,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Johnson Investment Counsel Inc. purchased a new stake in shares of Atlassian in the 4th quarter valued at $223,000. Daiwa Securities Group Inc. boosted its position in Atlassian by 42.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 33,240 shares of the technology company's stock valued at $8,090,000 after buying an additional 9,841 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Atlassian by 193.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,274 shares of the technology company's stock valued at $23,188,000 after buying an additional 62,812 shares during the period. OFI Invest Asset Management purchased a new stake in Atlassian during the 4th quarter valued at $63,000. Finally, Amundi boosted its position in Atlassian by 13.8% during the 4th quarter. Amundi now owns 724,644 shares of the technology company's stock valued at $177,168,000 after buying an additional 87,989 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Stock Performance

Shares of TEAM stock traded up $10.41 during trading hours on Wednesday, reaching $229.86. The company had a trading volume of 3,162,197 shares, compared to its average volume of 1,943,059. The business has a fifty day moving average price of $272.20 and a 200-day moving average price of $235.46. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The firm has a market cap of $60.22 billion, a PE ratio of -171.54 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

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Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results 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%. Sell-side analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 1,520 shares of the firm's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the transaction, the president now owns 211,991 shares of the company's stock, valued at approximately $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $253.01, for a total transaction of $2,010,923.48. Following the completion of the transaction, the director now directly owns 389,452 shares in the company, valued at approximately $98,535,250.52. The trade was a 2.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 256,605 shares of company stock valued at $69,903,340. 38.55% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Stephens assumed coverage on shares of Atlassian in a research report on Wednesday. They set an "equal weight" rating and a $255.00 price target for the company. Barclays increased their price target on shares of Atlassian from $275.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Scotiabank increased their price target on shares of Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a research report on Friday, January 31st. Macquarie raised their target price on shares of Atlassian from $290.00 to $317.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group raised their target price on shares of Atlassian from $300.00 to $325.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $316.77.

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.