Hennion & Walsh Asset Management Inc. Acquires 447 Shares of Atlassian Co. (NASDAQ:TEAM)

Hennion & Walsh Asset Management Inc. grew its holdings in Atlassian Co. (NASDAQ:TEAM) by 23.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,316 shares of the technology company’s stock after acquiring 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 filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TEAM. GAMMA Investing LLC raised its stake in Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after purchasing an additional 54 shares during the last quarter. Legacy Wealth Asset Management LLC raised its position in shares of Atlassian by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after buying an additional 70 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after buying an additional 82 shares during the period. Commerce Bank grew its position in Atlassian by 1.8% during the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after buying an additional 90 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Atlassian by 4.8% during the third quarter. Signaturefd LLC now owns 2,411 shares of the technology company’s stock valued at $383,000 after acquiring an additional 111 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Activity

In other news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $253.01, for a total value of $2,010,923.48. Following the transaction, the director now owns 389,452 shares of the company’s stock, valued at approximately $98,535,250.52. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 4,560 shares of Atlassian stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the sale, the president now owns 224,436 shares of the company’s stock, valued at approximately $50,599,096.20. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 272,188 shares of company stock valued at $66,287,140. Company insiders own 38.55% of the company’s stock.

Atlassian Stock Down 0.7 %

Shares of NASDAQ:TEAM opened at $252.36 on Tuesday. 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 cap of $65.72 billion, a P/E ratio of -166.03 and a beta of 0.83. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $287.97. The company’s 50-day moving average price is $256.49 and its two-hundred day moving average price is $202.72.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on TEAM. UBS Group raised their price objective on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Robert W. Baird raised their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Cantor Fitzgerald assumed coverage on shares of Atlassian in a report on Friday. They issued a “neutral” rating and a $264.00 price target on the stock. Morgan Stanley raised their price objective on shares of Atlassian from $259.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Truist Financial raised shares of Atlassian from a “hold” rating to a “buy” rating and upped their target price for the company from $250.00 to $300.00 in a research note on Tuesday, January 7th. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $272.00.

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.