Sequoia Financial Advisors LLC Raises Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Sequoia Financial Advisors LLC boosted its position in Atlassian Co. (NASDAQ:TEAMFree Report) by 12.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,540 shares of the technology company’s stock after purchasing an additional 176 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Atlassian were worth $300,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEAM. Graypoint LLC boosted its stake in Atlassian by 2.4% in the 4th quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock worth $424,000 after buying an additional 42 shares during the last quarter. Legacy Wealth Asset Management LLC grew its holdings in Atlassian by 1.4% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock valued at $736,000 after purchasing an additional 43 shares during the period. Park National Corp OH increased its position in Atlassian by 3.5% during the fourth quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock worth $342,000 after purchasing an additional 48 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in Atlassian by 1.5% during the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock worth $721,000 after purchasing an additional 55 shares during the period. Finally, UMB Bank n.a. boosted its holdings 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 during the last quarter. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several research reports. Wells Fargo & Company cut their target price on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Mizuho reduced their price objective on Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $200.00 to $225.00 in a report on Tuesday, July 2nd. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Finally, Citigroup dropped their price objective on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $226.94.

Read Our Latest Stock Report on Atlassian

Insiders Place Their Bets

In related news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $207.36, for a total transaction of $1,708,853.76. Following the sale, the chief executive officer now directly owns 432,378 shares of the company’s stock, valued at approximately $89,657,902.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $207.36, for a total transaction of $1,708,853.76. Following the completion of the sale, the chief executive officer now owns 432,378 shares in the company, valued at $89,657,902.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $200.00, for a total transaction of $152,000.00. Following the sale, the president now directly owns 161,850 shares in the company, valued at $32,370,000. The disclosure for this sale can be found here. Insiders have sold a total of 278,975 shares of company stock valued at $49,434,767 in the last quarter. Insiders own 40.48% of the company’s stock.

Atlassian Stock Down 2.1 %

TEAM opened at $177.98 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a 12-month low of $152.34 and a 12-month high of $258.69. The firm’s fifty day moving average price is $171.29 and its 200 day moving average price is $198.87.

Atlassian (NASDAQ:TEAMGet Free Report) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.40) EPS. On average, equities research analysts anticipate that Atlassian Co. will post -0.21 earnings per share for the current fiscal year.

About Atlassian

(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.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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