Chicago Partners Investment Group LLC Purchases New Shares in Atlassian Co. (NASDAQ:TEAM)

Chicago Partners Investment Group LLC acquired a new position in Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,071 shares of the technology company’s stock, valued at approximately $262,000.

A number of other large investors have also recently made changes to their positions in TEAM. GAMMA Investing LLC grew its position in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Atlassian by 23,100.0% in the 3rd 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 last quarter. Reston Wealth Management LLC purchased a new position in shares of Atlassian in the 3rd quarter worth approximately $48,000. Brown Brothers Harriman & Co. increased its position in shares of Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 82 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Atlassian during the 3rd quarter valued at $103,000. 94.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Atlassian news, CAO Gene Liu sold 445 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $230.00, for a total transaction of $102,350.00. Following the transaction, the chief accounting officer now owns 58,723 shares in the company, valued at approximately $13,506,290. This represents a 0.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $239.19, for a total transaction of $1,901,082.12. Following the completion of the transaction, the chief executive officer now directly owns 230,492 shares of the company’s stock, valued at approximately $55,131,381.48. This represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 257,935 shares of company stock worth $66,966,954 in the last ninety days. 38.55% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on TEAM shares. UBS Group boosted their price objective on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Macquarie began coverage on shares of Atlassian in a report on Thursday, December 12th. They set a “neutral” rating and a $290.00 price target on the stock. Raymond James reissued an “outperform” rating and issued a $330.00 price objective (up previously from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Wells Fargo & Company upped their target price on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Citigroup boosted their price objective on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $318.43.

Atlassian Price Performance

Shares of TEAM stock opened at $316.73 on Wednesday. The company has a market cap of $82.49 billion, a P/E ratio of -236.36 and a beta of 0.87. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The stock’s 50-day moving average is $262.61 and its 200 day moving average is $210.38. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $324.37.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 18.00%. Research analysts predict that Atlassian Co. will post -0.55 earnings per share for the current fiscal 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.