J.W. Cole Advisors Inc. Purchases Shares of 1,587 Atlassian Co. (NASDAQ:TEAM)

J.W. Cole Advisors Inc. purchased a new stake in Atlassian Co. (NASDAQ:TEAM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,587 shares of the technology company’s stock, valued at approximately $281,000.

Other large investors have also recently bought and sold shares of the company. Asset Dedication LLC boosted its holdings in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Hollencrest Capital Management boosted its holdings in Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after purchasing an additional 119 shares during the period. Trust Co. of Vermont boosted its holdings in Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC bought a new position in Atlassian in the 2nd quarter valued at $36,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Atlassian in the 1st quarter valued at $40,000. 93.03% of the stock is owned by institutional investors.

Insider Activity

In related news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $160.00, for a total transaction of $121,600.00. Following the sale, the president now owns 153,294 shares of the company’s stock, valued at $24,527,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $170.45, for a total transaction of $1,354,736.60. Following the sale, the chief executive officer now owns 15,896 shares of the company’s stock, valued at $2,709,473.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $160.00, for a total transaction of $121,600.00. Following the sale, the president now directly owns 153,294 shares in the company, valued at approximately $24,527,040. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,211 shares of company stock valued at $39,011,254. Corporate insiders own 40.48% of the company’s stock.

Atlassian Trading Up 2.6 %

Shares of Atlassian stock opened at $159.84 on Thursday. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The company’s fifty day simple moving average is $162.64 and its two-hundred day simple moving average is $175.93.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) EPS. Sell-side analysts predict that Atlassian Co. will post -0.58 EPS for the current year.

Analyst Upgrades and Downgrades

TEAM has been the topic of several research reports. BMO Capital Markets lowered their price objective on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research report on Friday, August 2nd. Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company lowered their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Finally, Truist Financial lowered their price objective on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $217.69.

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.