Q3 Asset Management Makes New Investment in Atlassian Co. (NASDAQ:TEAM)

Q3 Asset Management bought a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,202 shares of the technology company's stock, valued at approximately $536,000.

Several other large investors have also made changes to their positions in TEAM. GAMMA Investing LLC raised its position in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock worth $37,000 after acquiring an additional 96 shares during the last quarter. True Wealth Design LLC grew its position in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock worth $37,000 after buying an additional 231 shares during the period. Reston Wealth Management LLC bought a new stake in shares of Atlassian in the 3rd quarter valued at about $48,000. Brown Brothers Harriman & Co. raised its position in shares of Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company's stock valued at $69,000 after acquiring an additional 82 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in Atlassian during the 3rd quarter worth approximately $103,000. Institutional investors own 94.45% of the company's stock.

Insider Transactions at Atlassian

In other Atlassian news, CAO Gene Liu sold 165 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the transaction, the chief accounting officer now directly owns 56,423 shares in the company, valued at approximately $13,871,030.32. This trade represents a 0.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $237.04, for a total transaction of $1,883,993.92. Following the completion of the sale, the director now owns 278,180 shares of the company's stock, valued at approximately $65,939,787.20. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 257,935 shares of company stock valued at $66,966,954 in the last quarter. 38.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TEAM has been the topic of several analyst reports. UBS Group increased their target price on shares of Atlassian from $275.00 to $330.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Cantor Fitzgerald boosted their price objective on shares of Atlassian from $264.00 to $304.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Truist Financial restated a "buy" rating and issued a $350.00 price target (up from $300.00) on shares of Atlassian in a report on Friday, January 31st. Scotiabank boosted their target price on Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a research note on Friday, January 31st. Finally, Barclays lifted their price objective on shares of Atlassian from $275.00 to $350.00 and gave the company an "overweight" rating in a report on Monday. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $318.43.

Atlassian Price Performance

NASDAQ:TEAM traded up $3.44 on Wednesday, hitting $320.17. The company had a trading volume of 766,590 shares, compared to its average volume of 2,152,003. The firm has a 50 day moving average of $262.61 and a two-hundred day moving average of $210.38. The stock has a market capitalization of $83.38 billion, a price-to-earnings ratio of -239.03 and a beta of 0.87. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $324.37. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

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 net margin of 7.22% and a negative return on equity of 18.00%. On average, research analysts anticipate that Atlassian Co. will post -0.55 earnings per share 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.