Atlassian Co. (NASDAQ:TEAM) Shares Purchased by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. lifted its stake in Atlassian Co. (NASDAQ:TEAM) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,958 shares of the technology company’s stock after purchasing an additional 59 shares during the period. J.W. Cole Advisors Inc.’s holdings in Atlassian were worth $963,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TEAM. Virtu Financial LLC purchased a new stake in shares of Atlassian during the third quarter worth approximately $606,000. Sequoia Financial Advisors LLC boosted its holdings in shares of Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after buying an additional 520 shares in the last quarter. Fulton Bank N.A. purchased a new position in shares of Atlassian during the fourth quarter worth about $447,000. Paloma Partners Management Co acquired a new position in shares of Atlassian in the 3rd quarter valued at $1,588,000. Finally, Impax Asset Management Group plc increased its stake in Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after purchasing an additional 31,986 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88. Following the completion of the sale, the chief executive officer now owns 270,232 shares in the company, valued at $87,098,475.92. This trade represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Gene Liu sold 779 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the sale, the chief accounting officer now owns 52,710 shares in the company, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 265,830 shares of company stock worth $72,193,305. Corporate insiders own 38.55% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of analyst reports. Truist Financial restated a “buy” rating and set a $350.00 price objective (up previously from $300.00) on shares of Atlassian in a research report on Friday, January 31st. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Piper Sandler raised their price objective on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Macquarie boosted their target price on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group increased their price target on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Stock Up 0.7 %

Shares of NASDAQ TEAM opened at $315.44 on Wednesday. The stock has a market cap of $82.65 billion, a PE ratio of -235.40 and a beta of 0.87. The business has a fifty day moving average of $270.89 and a two-hundred day moving average of $219.37. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.18 and a current ratio of 1.24. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal 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.