HB Wealth Management LLC Buys New Holdings in Atlassian Co. (NASDAQ:TEAM)

HB Wealth Management LLC bought a new stake in shares of Atlassian Co. (NASDAQ:TEAMFree Report) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 966 shares of the technology company’s stock, valued at approximately $230,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Atlassian by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 14,851,471 shares of the technology company’s stock valued at $2,992,720,000 after purchasing an additional 112,482 shares during the period. WCM Investment Management LLC raised its holdings in shares of Atlassian by 0.3% during the 1st quarter. WCM Investment Management LLC now owns 9,532,236 shares of the technology company’s stock worth $1,631,633,000 after acquiring an additional 28,479 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Atlassian by 12.4% during the 2nd quarter. BlackRock Inc. now owns 8,501,011 shares of the technology company’s stock worth $1,426,555,000 after acquiring an additional 937,538 shares in the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Atlassian by 1.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock worth $1,218,765,000 after acquiring an additional 63,903 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Atlassian by 2.5% during the 2nd quarter. State Street Corp now owns 3,052,936 shares of the technology company’s stock worth $512,313,000 after acquiring an additional 73,127 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Atlassian Stock Performance

Shares of Atlassian stock opened at $195.11 on Friday. The stock’s fifty day moving average is $213.10 and its two-hundred day moving average is $206.82. The company has a market capitalization of $50.61 billion, a PE ratio of -130.95 and a beta of 0.64. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69.

Atlassian (NASDAQ:TEAMGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. As a group, analysts expect that Atlassian Co. will post -0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TEAM shares. KeyCorp started coverage on Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Citigroup upped their price objective on Atlassian from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Mizuho upped their price objective on Atlassian from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Capital One Financial began coverage on Atlassian in a research report on Monday, December 18th. They set an “equal weight” rating and a $238.00 target price on the stock. Finally, Scotiabank began coverage on Atlassian in a research report on Friday, December 1st. They set a “sector perform” rating and a $185.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $225.19.

Check Out Our Latest Stock Analysis on Atlassian

Insider Transactions at Atlassian

In other news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $194.67, for a total transaction of $1,604,275.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CTO Rajeev Bashyam Rajan sold 872 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $185,622.64. Following the transaction, the chief technology officer now owns 142,103 shares of the company’s stock, valued at approximately $30,249,465.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $194.67, for a total value of $1,604,275.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 293,159 shares of company stock valued at $63,767,765. 40.48% of the stock is currently owned by corporate insiders.

Atlassian Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding TEAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlassian Co. (NASDAQ:TEAMFree Report).

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with MarketBeat.com's FREE daily email newsletter.