Atlassian Co. (NASDAQ:TEAM) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its position in Atlassian Co. (NASDAQ:TEAM) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,960 shares of the technology company’s stock after purchasing an additional 230 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Atlassian were worth $1,937,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TEAM. GAMMA Investing LLC grew its position in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares during the period. Reston Wealth Management LLC acquired a new position in shares of Atlassian during the third quarter valued at approximately $48,000. Quarry LP increased its stake in shares of Atlassian by 143.8% during the second quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after acquiring an additional 220 shares during the period. Finally, Brown Brothers Harriman & Co. raised its holdings in Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after purchasing an additional 82 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of research reports. Truist Financial raised Atlassian from a “hold” rating to a “buy” rating and increased their price target for the company from $250.00 to $300.00 in a research note on Tuesday, January 7th. Wells Fargo & Company raised their target price on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Piper Sandler boosted their price target on shares of Atlassian from $265.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Raymond James raised their price objective on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Oppenheimer boosted their target price on shares of Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $266.10.

Atlassian Trading Up 4.3 %

Shares of NASDAQ:TEAM opened at $246.40 on Wednesday. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $287.97. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $64.17 billion, a P/E ratio of -162.10 and a beta of 0.83. The firm has a fifty day moving average of $255.17 and a two-hundred day moving average of $200.72.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, equities analysts expect that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Insider Activity at Atlassian

In other news, CAO Gene Liu sold 1,024 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $230,860.80. Following the completion of the sale, the chief accounting officer now directly owns 59,168 shares in the company, valued at approximately $13,339,425.60. The trade was a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $192.16, for a total transaction of $1,527,287.68. Following the completion of the transaction, the chief executive officer now owns 397,400 shares in the company, valued at $76,364,384. The trade was a 1.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 271,428 shares of company stock valued at $65,082,922. 38.55% of the stock is currently owned by corporate insiders.

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.