Mather Group LLC. Buys New Shares in Atlassian Co. (NASDAQ:TEAM)

Mather Group LLC. bought a new stake in Atlassian Co. (NASDAQ:TEAM) during the first quarter, HoldingsChannel reports. The fund bought 580 shares of the technology company’s stock, valued at approximately $113,000.

Other institutional investors have also added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Atlassian by 271.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after acquiring an additional 271 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Atlassian by 255.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after acquiring an additional 291 shares during the last quarter. GAMMA Investing LLC bought a new position in Atlassian in the fourth quarter valued at $107,000. Operose Advisors LLC bought a new position in Atlassian in the third quarter valued at $99,000. Finally, Newbridge Financial Services Group Inc. increased its stake in Atlassian by 38.9% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 536 shares of the technology company’s stock valued at $127,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

TEAM has been the topic of a number of recent research reports. TD Cowen reduced their price objective on Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. KeyCorp initiated coverage on Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating on the stock. Oppenheimer reduced their price objective on Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Wells Fargo & Company reduced their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research note on Friday, June 7th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $221.28.

Insider Activity at Atlassian

In related news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Friday, April 12th. The shares were sold at an average price of $207.36, for a total transaction of $1,708,853.76. Following the transaction, the chief executive officer now owns 432,378 shares in the company, valued at approximately $89,657,902.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $163.54, for a total value of $1,299,815.92. Following the sale, the chief executive officer now owns 87,428 shares in the company, valued at approximately $14,297,975.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $207.36, for a total transaction of $1,708,853.76. Following the completion of the sale, the chief executive officer now owns 432,378 shares in the company, valued at approximately $89,657,902.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 272,318 shares of company stock worth $49,526,292. 40.48% of the stock is owned by corporate insiders.

Atlassian Trading Up 3.1 %

Shares of TEAM stock opened at $162.46 on Friday. Atlassian Co. has a 1 year low of $152.34 and a 1 year high of $258.69. The firm has a fifty day moving average price of $174.51 and a 200-day moving average price of $202.26. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $42.29 billion, a price-to-earnings ratio of -257.87 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm posted ($0.40) EPS. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. As a group, equities analysts predict that Atlassian Co. will post -0.21 earnings per share for the current year.

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.