Azzad Asset Management Inc. ADV Buys 1,730 Shares of Atlassian Co. (NASDAQ:TEAM)

Azzad Asset Management Inc. ADV grew its stake in Atlassian Co. (NASDAQ:TEAM) by 100.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,451 shares of the technology company’s stock after purchasing an additional 1,730 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Atlassian were worth $548,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. First Trust Direct Indexing L.P. raised its position in shares of Atlassian by 1.5% in the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after purchasing an additional 55 shares during the period. Park National Corp OH raised its position in shares of Atlassian by 4.0% in the first quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock valued at $292,000 after purchasing an additional 58 shares during the period. Financial Advocates Investment Management raised its position in shares of Atlassian by 1.7% in the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after purchasing an additional 62 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Atlassian by 1.4% in the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock valued at $890,000 after acquiring an additional 65 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Atlassian by 6.8% in the first quarter. UMB Bank n.a. now owns 1,112 shares of the technology company’s stock valued at $217,000 after acquiring an additional 71 shares in the last quarter. 93.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on TEAM. Wells Fargo & Company decreased their price target on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Morgan Stanley decreased their price target on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Mizuho decreased their price target on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. Truist Financial decreased their price target on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Finally, Scotiabank decreased their price target on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $216.65.

Atlassian Price Performance

TEAM opened at $168.02 on Wednesday. The company’s 50 day moving average is $158.73 and its 200-day moving average is $171.92. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $1.13 billion during 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 firm’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) EPS. As a group, equities analysts expect that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $180.11, for a total transaction of $1,431,514.28. Following the completion of the transaction, the chief executive officer now owns 429,192 shares in the company, valued at approximately $77,301,771.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the transaction, the president now owns 143,966 shares in the company, valued at approximately $23,482,294.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $180.11, for a total transaction of $1,431,514.28. Following the transaction, the chief executive officer now owns 429,192 shares of the company’s stock, valued at approximately $77,301,771.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 224,263 shares of company stock worth $36,832,448 in the last quarter. 40.48% of the stock is owned by insiders.

About Atlassian

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.