American Trust Buys 574 Shares of Atlassian Co. (NASDAQ:TEAM)

American Trust raised its stake in Atlassian Co. (NASDAQ:TEAM – Get Rating) by 40.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,986 shares of the technology company’s stock after purchasing an additional 574 shares during the quarter. American Trust’s holdings in Atlassian were worth $418,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. lifted its position in shares of Atlassian by 324.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 27,528 shares of the technology company’s stock valued at $5,797,000 after buying an additional 21,037 shares during the last quarter. IHT Wealth Management LLC lifted its position in shares of Atlassian by 23.6% in the third quarter. IHT Wealth Management LLC now owns 2,468 shares of the technology company’s stock valued at $520,000 after buying an additional 472 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Atlassian by 52.3% in the third quarter. B. Riley Wealth Advisors Inc. now owns 2,465 shares of the technology company’s stock valued at $520,000 after buying an additional 847 shares during the last quarter. Integrated Investment Consultants LLC lifted its position in shares of Atlassian by 31.3% in the third quarter. Integrated Investment Consultants LLC now owns 1,875 shares of the technology company’s stock valued at $394,000 after buying an additional 447 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its holdings in Atlassian by 3.5% during the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 10,289 shares of the technology company’s stock worth $2,167,000 after purchasing an additional 349 shares during the last quarter. 45.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TEAM shares. Barclays initiated coverage on Atlassian in a report on Thursday, December 15th. They set an “equal weight” rating and a $155.00 price target for the company. Morgan Stanley decreased their price target on Atlassian from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. Canaccord Genuity Group lifted their price target on Atlassian from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Jefferies Financial Group lifted their price target on Atlassian from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, January 19th. Finally, Piper Sandler lifted their price target on Atlassian from $140.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $218.11.

Atlassian Trading Down 0.4 %

NASDAQ TEAM opened at $157.35 on Friday. The business’s 50-day moving average price is $162.32 and its two-hundred day moving average price is $172.18. Atlassian Co. has a 12 month low of $113.86 and a 12 month high of $318.64. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.73.

Atlassian (NASDAQ:TEAM – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The technology company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.33). Atlassian had a negative net margin of 11.17% and a negative return on equity of 73.57%. The company had revenue of $872.70 million during the quarter, compared to the consensus estimate of $842.45 million. Sell-side analysts expect that Atlassian Co. will post -0.84 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 8,614 shares of the company’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $136.83, for a total value of $1,178,653.62. Following the sale, the chief executive officer now owns 60,298 shares in the company, valued at approximately $8,250,575.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Scott Farquhar sold 8,614 shares of the business’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $136.83, for a total value of $1,178,653.62. Following the transaction, the chief executive officer now directly owns 60,298 shares of the company’s stock, valued at approximately $8,250,575.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 2,622 shares of the business’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $164.83, for a total value of $432,184.26. Following the completion of the transaction, the president now directly owns 131,459 shares in the company, valued at $21,668,386.97. The disclosure for this sale can be found here. In the last quarter, insiders have sold 255,487 shares of company stock worth $39,655,517. Insiders own 43.11% of the company’s stock.

Atlassian Company Profile

(Get Rating)

Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.