Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its position in shares of Atlassian Co. (NASDAQ:TEAM) by 23.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,316 shares of the technology company’s stock after purchasing an additional 447 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Atlassian were worth $564,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TEAM. Park Avenue Securities LLC grew its holdings in Atlassian by 16.7% during the fourth quarter. Park Avenue Securities LLC now owns 4,757 shares of the technology company’s stock worth $1,158,000 after acquiring an additional 682 shares during the period. Pallas Capital Advisors LLC grew its stake in shares of Atlassian by 185.9% in the 4th quarter. Pallas Capital Advisors LLC now owns 4,245 shares of the technology company’s stock worth $1,033,000 after purchasing an additional 2,760 shares during the last quarter. Wedmont Private Capital acquired a new position in shares of Atlassian in the 4th quarter worth approximately $221,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Atlassian by 3.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,960 shares of the technology company’s stock worth $1,937,000 after purchasing an additional 230 shares in the last quarter. Finally, Fulton Bank N.A. acquired a new stake in Atlassian during the fourth quarter valued at approximately $447,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Down 0.7 %

Shares of Atlassian stock opened at $252.36 on Tuesday. The stock has a 50-day simple moving average of $256.49 and a 200-day simple moving average of $202.72. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97. The firm has a market cap of $65.72 billion, a price-to-earnings ratio of -166.03 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) earnings per share. On average, equities research analysts expect that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Heather Mirjahangir Fernandez sold 1,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $338,175.00. Following the completion of the sale, the director now directly owns 8,610 shares of the company’s stock, valued at approximately $1,941,124.50. This represents a 14.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $278.79, for a total transaction of $2,215,822.92. Following the completion of the transaction, the chief executive officer now owns 135,116 shares in the company, valued at $37,668,989.64. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 272,188 shares of company stock valued at $66,287,140 over the last three months. 38.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Scotiabank upped their price target on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Morgan Stanley boosted their target price on Atlassian from $259.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Piper Sandler increased their price target on Atlassian from $265.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Citigroup boosted their price objective on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a report on Friday. Finally, Jefferies Financial Group raised their target price on shares of Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $272.00.

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.