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

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

Several other large investors also recently modified their holdings of TEAM. BlackRock Inc. raised its position in shares of Atlassian by 26.0% in the first quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company’s stock valued at $1,294,640,000 after purchasing an additional 1,561,804 shares during the period. Durable Capital Partners LP bought a new position in shares of Atlassian in the first quarter valued at about $434,144,000. Morgan Stanley raised its position in shares of Atlassian by 156.8% in the third quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock valued at $361,449,000 after purchasing an additional 1,095,297 shares during the period. Norges Bank bought a new position in shares of Atlassian in the fourth quarter valued at about $138,509,000. Finally, State Street Corp raised its position in shares of Atlassian by 41.0% in the first quarter. State Street Corp now owns 2,979,809 shares of the technology company’s stock valued at $510,032,000 after purchasing an additional 866,979 shares during the period. 93.03% of the stock is owned by institutional investors.

Atlassian Price Performance

TEAM stock opened at $204.74 on Thursday. 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 12 month low of $128.02 and a 12 month high of $258.69. The firm has a market cap of $53.11 billion, a P/E ratio of -137.41 and a beta of 0.63. The company’s 50-day moving average price is $204.85 and its two-hundred day moving average price is $206.53.

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

Insider Activity

In other news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $240.11, for a total value of $1,978,746.51. Following the sale, the chief executive officer now directly owns 420,291 shares in the company, valued at approximately $100,916,072.01. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $240.11, for a total value of $1,978,746.51. Following the sale, the chief executive officer now directly owns 420,291 shares in the company, valued at approximately $100,916,072.01. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 4,139 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $881,068.93. Following the completion of the sale, the president now owns 167,535 shares in the company, valued at $35,663,175.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,159 shares of company stock worth $62,593,423. Corporate insiders own 40.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Mizuho raised their price target on shares of Atlassian from $240.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. The Goldman Sachs Group raised their price target on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Wells Fargo & Company raised their price target on shares of Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Finally, Barclays raised their price target on shares of Atlassian from $165.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $225.19.

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.