Sequoia Financial Advisors LLC Acquires 155 Shares of Atlassian Co. (NASDAQ:TEAM)

Sequoia Financial Advisors LLC lifted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,364 shares of the technology company’s stock after acquiring an additional 155 shares during the period. Sequoia Financial Advisors LLC’s holdings in Atlassian were worth $324,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in Atlassian in the 3rd quarter worth about $26,000. Tyler Stone Wealth Management bought a new stake in Atlassian in the 2nd quarter worth about $34,000. Meeder Asset Management Inc. grew its position in Atlassian by 151.5% in the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock worth $31,000 after purchasing an additional 147 shares in the last quarter. Carmel Capital Partners LLC grew its position in Atlassian by 28.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after purchasing an additional 57 shares in the last quarter. Finally, Quarry LP bought a new stake in Atlassian in the 2nd quarter worth about $44,000. 93.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Wells Fargo & Company upped their price objective 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. Mizuho dropped their target price on shares of Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday. Finally, KeyCorp initiated coverage on shares of Atlassian in a research note on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Atlassian presently has an average rating of “Hold” and an average price target of $224.25.

Insider Activity at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 4,139 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $881,068.93. Following the sale, the president now directly owns 167,535 shares in the company, valued at approximately $35,663,175.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Atlassian news, President Anutthara Bharadwaj sold 4,139 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $881,068.93. Following the sale, the president now directly owns 167,535 shares in the company, valued at approximately $35,663,175.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $196.26, for a total transaction of $1,617,378.66. Following the completion of the sale, the chief executive officer now owns 407,655 shares in the company, valued at $80,006,370.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 298,930 shares of company stock worth $62,707,908. 40.48% of the stock is owned by corporate insiders.

Atlassian Stock Performance

Shares of TEAM stock opened at $193.61 on Friday. The stock has a market capitalization of $50.22 billion, a P/E ratio of -129.94 and a beta of 0.63. 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 firm’s 50 day moving average is $202.37 and its 200 day moving average is $206.57. Atlassian Co. has a 12 month low of $128.02 and a 12 month high of $258.69.

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

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.