TD Private Client Wealth LLC Buys 9,757 Shares of Atlassian Co. (NASDAQ:TEAM)

TD Private Client Wealth LLC lifted its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 9,292.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,862 shares of the technology company's stock after purchasing an additional 9,757 shares during the quarter. TD Private Client Wealth LLC's holdings in Atlassian were worth $2,400,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Assetmark Inc. boosted its position in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after purchasing an additional 41 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after buying an additional 47 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock worth $71,000 after buying an additional 54 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Atlassian by 4.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company's stock valued at $357,000 after acquiring an additional 56 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its position in shares of Atlassian by 1.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company's stock valued at $963,000 after acquiring an additional 59 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several research firms have weighed in on TEAM. William Blair reaffirmed an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Truist Financial reaffirmed a "buy" rating and issued a $350.00 target price (up from $300.00) on shares of Atlassian in a research report on Friday, January 31st. BMO Capital Markets upgraded Atlassian from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $255.00 to $292.00 in a report on Friday, January 10th. Cantor Fitzgerald increased their target price on Atlassian from $264.00 to $304.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Finally, Scotiabank boosted their price target on shares of Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a research note on Friday, January 31st. Nine research 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, Atlassian has an average rating of "Moderate Buy" and an average target price of $316.77.

Atlassian Stock Performance

Shares of Atlassian stock traded down $6.57 during trading hours on Wednesday, hitting $229.65. 1,445,846 shares of the company's stock traded hands, compared to its average volume of 1,935,976. The company has a fifty day simple moving average of $271.00 and a 200-day simple moving average of $237.85. 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 stock has a market capitalization of $60.17 billion, a price-to-earnings ratio of -171.38 and a beta of 0.91. 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 announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) 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%. Equities research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CAO Gene Liu sold 779 shares of the company's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the transaction, the chief accounting officer now owns 52,710 shares of the company's stock, valued at $16,867,727.10. This represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $246.97, for a total value of $1,962,917.56. Following the transaction, the chief executive officer now owns 7,948 shares of the company's stock, valued at $1,962,917.56. The trade was a 50.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 263,033 shares of company stock valued at $70,849,302. Company insiders own 38.55% of the company's stock.

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.