6,130 Shares in Atlassian Co. (NASDAQ:TEAM) Bought by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC acquired a new position in Atlassian Co. (NASDAQ:TEAM - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 6,130 shares of the technology company's stock, valued at approximately $1,084,000.

Several other institutional investors and hedge funds have also made changes to their positions in TEAM. Norges Bank purchased a new stake in shares of Atlassian in the 4th quarter worth about $247,740,000. Price T Rowe Associates Inc. MD lifted its holdings in Atlassian by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company's stock valued at $2,173,847,000 after purchasing an additional 904,138 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Atlassian in the 2nd quarter valued at about $91,072,000. Vanguard Group Inc. lifted its holdings in Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company's stock valued at $3,652,495,000 after purchasing an additional 504,181 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Atlassian in the 1st quarter valued at about $55,307,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Atlassian

In other news, CEO Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $162.61, for a total transaction of $1,292,424.28. Following the completion of the sale, the chief executive officer now owns 111,272 shares of the company's stock, valued at $18,093,939.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $162.61, for a total transaction of $1,292,424.28. Following the completion of the sale, the chief executive officer now owns 111,272 shares of the company's stock, valued at $18,093,939.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 760 shares of the firm's stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $175.00, for a total transaction of $133,000.00. Following the sale, the president now directly owns 152,534 shares of the company's stock, valued at approximately $26,693,450. The disclosure for this sale can be found here. Over the last quarter, insiders sold 256,055 shares of company stock valued at $42,734,017. 40.48% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TEAM has been the topic of a number of recent research reports. Truist Financial reduced their target price on shares of Atlassian from $200.00 to $160.00 and set a "hold" rating on the stock in a report on Friday, August 2nd. Piper Sandler upgraded shares of Atlassian from a "neutral" rating to an "overweight" rating and upped their target price for the company from $200.00 to $225.00 in a report on Tuesday, July 2nd. The Goldman Sachs Group upgraded shares of Atlassian from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Wells Fargo & Company cut their price objective on shares of Atlassian from $285.00 to $250.00 and set an "overweight" rating on the stock in a report on Friday, June 21st. Finally, Scotiabank cut their price objective on shares of Atlassian from $210.00 to $175.00 and set a "sector perform" rating on the stock in a report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $217.69.

Atlassian Stock Down 0.2 %

NASDAQ:TEAM traded down $0.40 during trading hours on Thursday, hitting $161.90. The stock had a trading volume of 1,742,692 shares, compared to its average volume of 1,783,172. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The business has a 50 day simple moving average of $166.08 and a two-hundred day simple moving average of $178.99. The company has a market cap of $42.10 billion, a PE ratio of -256.51 and a beta of 0.73.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the company earned ($0.21) earnings per share. Atlassian's revenue for the quarter was up 20.5% on a year-over-year basis. Analysts predict that Atlassian Co. will post -0.58 EPS for the current 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.