Stonebridge Financial Group LLC Invests $290,000 in Atlassian Co. (NASDAQ:TEAM)

Stonebridge Financial Group LLC bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,192 shares of the technology company's stock, valued at approximately $290,000.

Several other hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company's stock worth $37,000 after buying an additional 96 shares during the last quarter. CWM LLC lifted its holdings in Atlassian by 270.6% in the third quarter. CWM LLC now owns 7,875 shares of the technology company's stock valued at $1,251,000 after acquiring an additional 5,750 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Atlassian by 227.2% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,214 shares of the technology company's stock worth $193,000 after purchasing an additional 843 shares during the period. Creative Planning increased its holdings in shares of Atlassian by 32.3% during the 3rd quarter. Creative Planning now owns 7,947 shares of the technology company's stock valued at $1,262,000 after purchasing an additional 1,941 shares in the last quarter. Finally, Swedbank AB lifted its stake in shares of Atlassian by 4.2% in the 3rd quarter. Swedbank AB now owns 63,535 shares of the technology company's stock valued at $10,090,000 after purchasing an additional 2,539 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Trading Down 0.9 %

Shares of NASDAQ TEAM traded down $2.90 during trading on Friday, hitting $313.10. 2,882,414 shares of the company were exchanged, compared to its average volume of 2,088,136. The company has a fifty day moving average price of $270.09 and a 200-day moving average price of $218.10. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.18 and a current ratio of 1.24. The firm has a market capitalization of $82.03 billion, a PE ratio of -233.65 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 released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, equities research analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Insider Activity

In related news, CAO Gene Liu sold 165 shares of the business's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total value of $40,563.60. Following the sale, the chief accounting officer now directly owns 56,423 shares in the company, valued at approximately $13,871,030.32. The trade was a 0.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $244.81, for a total transaction of $1,945,749.88. Following the completion of the transaction, the director now directly owns 214,596 shares in the company, valued at $52,535,246.76. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 285,224 shares of company stock valued at $76,899,985. 38.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TEAM has been the subject of a number of recent analyst reports. Cantor Fitzgerald lifted their price objective on shares of Atlassian from $264.00 to $304.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Barclays lifted their price target on Atlassian from $275.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Mizuho increased their price target on Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Citigroup boosted their price objective on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Finally, Piper Sandler lifted their price target on shares of Atlassian from $310.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and a consensus target price of $319.71.

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.