Strategic Advisors LLC Makes New $218,000 Investment in Atlassian Co. (NASDAQ:TEAM)

Strategic Advisors LLC purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 895 shares of the technology company's stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TEAM. Baillie Gifford & Co. grew its position in Atlassian by 0.9% in the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company's stock valued at $1,352,115,000 after acquiring an additional 78,454 shares during the period. State Street Corp boosted its stake in shares of Atlassian by 0.3% in the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company's stock valued at $565,424,000 after purchasing an additional 8,957 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Atlassian by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock worth $393,588,000 after purchasing an additional 131,621 shares during the last quarter. FMR LLC lifted its holdings in Atlassian by 7.4% during the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company's stock valued at $346,679,000 after purchasing an additional 150,237 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Atlassian by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company's stock valued at $340,453,000 after purchasing an additional 57,911 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Atlassian Trading Down 4.2 %

Shares of NASDAQ TEAM traded down $12.50 during midday trading on Friday, reaching $285.99. 1,717,448 shares of the stock were exchanged, compared to its average volume of 2,056,392. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The company has a market capitalization of $74.93 billion, a price-to-earnings ratio of -213.42 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50-day simple moving average of $272.83 and a two-hundred day simple moving average of $221.70.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted 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 net margin of 7.22% and a negative return on equity of 17.37%. As a group, equities research analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TEAM. UBS Group raised their price objective on shares of Atlassian from $275.00 to $330.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of Atlassian in a report on Friday, January 31st. The Goldman Sachs Group boosted their price objective on Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Morgan Stanley raised their target price on Atlassian from $315.00 to $370.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Canaccord Genuity Group upped their price target on shares of Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Atlassian currently has a consensus rating of "Moderate Buy" and a consensus target price of $319.71.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $297.51, for a total value of $2,364,609.48. Following the sale, the chief executive officer now owns 214,596 shares of the company's stock, valued at $63,844,455.96. This trade represents a 3.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 1,723 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total value of $526,962.32. Following the transaction, the president now directly owns 199,934 shares of the company's stock, valued at $61,147,814.56. This represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 283,449 shares of company stock valued at $77,580,151. 38.55% of the stock is owned by corporate insiders.

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.