Jones Financial Companies Lllp Purchases 417 Shares of Atlassian Co. (NASDAQ:TEAM)

Jones Financial Companies Lllp lifted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 51.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,227 shares of the technology company’s stock after acquiring an additional 417 shares during the period. Jones Financial Companies Lllp’s holdings in Atlassian were worth $299,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allworth Financial LP lifted its stake in Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after purchasing an additional 47 shares during the period. GAMMA Investing LLC lifted its position in shares of Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after buying an additional 54 shares during the period. Venturi Wealth Management LLC lifted its position in shares of Atlassian by 4.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock worth $357,000 after buying an additional 56 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in shares of Atlassian by 1.5% during the fourth quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock valued at $963,000 after acquiring an additional 59 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after acquiring an additional 82 shares during the period. 94.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TEAM has been the subject of several analyst reports. UBS Group lifted their price target on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a report on Friday, January 31st. JMP Securities reiterated a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. KeyCorp lifted their target price on shares of Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Mizuho lifted their price objective on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, Truist Financial reiterated a “buy” rating and issued a $350.00 price objective (up previously from $300.00) on shares of Atlassian in a research report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Atlassian Stock Up 1.0 %

Shares of NASDAQ:TEAM opened at $226.44 on Thursday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $59.33 billion, a PE ratio of -168.98 and a beta of 0.91. The company has a 50 day moving average price of $274.77 and a two-hundred day moving average price of $233.52.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results 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%. Analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Activity

In other news, CAO Gene Liu sold 568 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the transaction, the chief accounting officer now directly owns 52,142 shares of the company’s stock, valued at $16,272,475.36. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $218.05, for a total transaction of $1,733,061.40. Following the completion of the transaction, the director now directly owns 119,220 shares of the company’s stock, valued at approximately $25,995,921. This trade represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 264,553 shares of company stock worth $72,358,556 over the last quarter. 38.55% of the stock is currently owned by company insiders.

Atlassian Company 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.