Powell Investment Advisors LLC Purchases New Stake in Atlassian Co. (NASDAQ:TEAM)

Powell Investment Advisors LLC purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,190 shares of the technology company's stock, valued at approximately $290,000.

Other large investors have also made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of Atlassian during the 3rd quarter worth $606,000. Sequoia Financial Advisors LLC grew its stake in Atlassian by 37.0% in the 3rd 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 during the last quarter. Fulton Bank N.A. acquired a new stake in Atlassian in the 4th quarter valued at about $447,000. Paloma Partners Management Co acquired a new stake in Atlassian in the 3rd quarter valued at about $1,588,000. Finally, Impax Asset Management Group plc grew its stake in Atlassian by 590.6% in the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 1,659 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total value of $407,798.79. Following the completion of the transaction, the president now owns 213,511 shares in the company, valued at $52,483,138.91. This represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $315.74, for a total value of $2,509,501.52. Following the completion of the transaction, the chief executive officer now directly owns 254,336 shares in the company, valued at approximately $80,304,048.64. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 272,601 shares of company stock worth $72,961,244 in the last 90 days. 38.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TEAM shares. JMP Securities reissued a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. Raymond James reissued an "outperform" rating and issued a $330.00 price objective (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Cantor Fitzgerald increased their price objective on shares of Atlassian from $264.00 to $304.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Canaccord Genuity Group raised their price target on shares of Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Finally, William Blair reaffirmed an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $319.71.

Atlassian Trading Down 0.8 %

Shares of NASDAQ:TEAM traded down $2.45 during trading on Thursday, reaching $316.00. 1,459,831 shares of the stock were exchanged, compared to its average volume of 2,033,703. 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 12-month low of $135.29 and a 12-month high of $326.00. The firm has a market cap of $82.79 billion, a price-to-earnings ratio of -235.82 and a beta of 0.87. The firm's 50-day moving average price is $268.61 and its 200 day moving average price is $216.16.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued 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 return on equity of 17.37% and a negative net margin of 7.22%. On average, sell-side analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal 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.