Savant Capital LLC Makes New $248,000 Investment in Atlassian Co. (NASDAQ:TEAM)

Savant Capital LLC bought a new position in Atlassian Co. (NASDAQ:TEAM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,018 shares of the technology company's stock, valued at approximately $248,000.

Other hedge funds also recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Atlassian in the third quarter worth about $606,000. Sequoia Financial Advisors LLC lifted its position in shares of Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company's stock worth $306,000 after buying an additional 520 shares in the last quarter. Fulton Bank N.A. purchased a new stake in shares of Atlassian in the fourth quarter worth about $447,000. Paloma Partners Management Co bought a new stake in Atlassian during the third quarter worth approximately $1,588,000. Finally, Impax Asset Management Group plc increased its stake in Atlassian by 590.6% during the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company's stock worth $5,940,000 after acquiring an additional 31,986 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Stock Down 4.2 %

Atlassian stock traded down $12.50 during mid-day trading on Friday, reaching $285.99. 1,717,434 shares of the company were exchanged, compared to its average volume of 2,056,111. The business has a fifty day moving average of $272.83 and a 200 day moving average of $221.70. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $74.93 billion, a P/E ratio of -213.42 and a beta of 0.87. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. Research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Gene Liu sold 568 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the sale, the chief accounting officer now owns 52,142 shares in the company, valued at approximately $16,272,475.36. This represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $264.20, for a total value of $2,099,861.60. Following the sale, the director now owns 190,752 shares of the company's stock, valued at approximately $50,396,678.40. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 275,501 shares of company stock worth $75,215,542. Insiders own 38.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. JMP Securities reissued a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. StockNews.com raised Atlassian from a "hold" rating to a "buy" rating in a research note on Friday. Raymond James reissued an "outperform" rating and set a $330.00 price objective (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Cantor Fitzgerald boosted their price objective on Atlassian from $264.00 to $304.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Finally, William Blair reaffirmed an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $319.71.

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.