2,983 Shares in Atlassian Co. (NASDAQ:TEAM) Purchased by Merit Financial Group LLC

Merit Financial Group LLC bought a new stake in Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,983 shares of the technology company’s stock, valued at approximately $726,000.

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

Atlassian Trading Up 1.8 %

NASDAQ TEAM opened at $260.85 on Thursday. The firm’s 50 day moving average price is $256.71 and its two-hundred day moving average price is $203.21. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97. The stock has a market cap of $67.93 billion, a price-to-earnings ratio of -171.61 and a beta of 0.83.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on TEAM shares. Jefferies Financial Group boosted their price target on Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Canaccord Genuity Group upped their price objective on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Oppenheimer increased their price objective on shares of Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Finally, Truist Financial raised Atlassian from a “hold” rating to a “buy” rating and boosted their target price for the stock from $250.00 to $300.00 in a report on Tuesday, January 7th. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $272.00.

Insider Activity

In other news, President Anutthara Bharadwaj sold 4,560 shares of the firm’s stock in a transaction dated 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 completion of the sale, the president now directly owns 224,436 shares of the company’s stock, valued at $50,599,096.20. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $188.64, for a total value of $1,499,310.72. Following the completion of the sale, the chief executive officer now directly owns 349,712 shares of the company’s stock, valued at approximately $65,969,671.68. The trade was a 2.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 272,188 shares of company stock worth $66,820,848 in the last 90 days. Company insiders own 38.55% of the company’s stock.

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.