Arkadios Wealth Advisors Buys Shares of 848 Atlassian Co. (NASDAQ:TEAM)

Arkadios Wealth Advisors bought a new stake in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 848 shares of the technology company’s stock, valued at approximately $202,000.

Several other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in Atlassian in the 4th quarter valued at about $13,805,000. Arizona State Retirement System boosted its stake in shares of Atlassian by 1.5% in the 4th quarter. Arizona State Retirement System now owns 43,656 shares of the technology company’s stock valued at $10,384,000 after purchasing an additional 665 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Atlassian by 50.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,106 shares of the technology company’s stock valued at $3,355,000 after purchasing an additional 4,735 shares in the last quarter. Lewis Asset Management LLC acquired a new stake in shares of Atlassian in the 4th quarter valued at approximately $2,373,000. Finally, UMB Bank n.a. boosted its stake in shares of Atlassian by 5.7% in the 4th quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock valued at $248,000 after purchasing an additional 56 shares in the last quarter. 93.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Atlassian from $215.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. William Blair restated an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. KeyCorp assumed coverage on shares of Atlassian in a research note on Tuesday, March 19th. They issued a “sector weight” rating on the stock. UBS Group reduced their price target on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Finally, Truist Financial lifted their target price on shares of Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a research report on Tuesday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $225.19.

Atlassian Stock Performance

TEAM opened at $204.74 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The company’s fifty day moving average price is $204.85 and its two-hundred day moving average price is $206.53. Atlassian Co. has a 1-year low of $128.02 and a 1-year high of $258.69. The company has a market cap of $53.11 billion, a price-to-earnings ratio of -137.41 and a beta of 0.63.

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

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 2,470 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $240.55, for a total value of $594,158.50. Following the completion of the sale, the president now owns 171,674 shares in the company, valued at $41,296,180.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Gene Liu sold 227 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $48,321.49. Following the completion of the transaction, the chief accounting officer now owns 47,066 shares in the company, valued at $10,018,939.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Anutthara Bharadwaj sold 2,470 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $240.55, for a total transaction of $594,158.50. Following the transaction, the president now owns 171,674 shares of the company’s stock, valued at approximately $41,296,180.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,159 shares of company stock worth $62,593,423. Insiders own 40.48% of the company’s stock.

Atlassian Company 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.