Atlassian Co. (NASDAQ:TEAM) Shares Bought by Avion Wealth

Avion Wealth lifted its position in shares of Atlassian Co. (NASDAQ:TEAM) by 1,308.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 169 shares of the technology company’s stock after acquiring an additional 157 shares during the quarter. Avion Wealth’s holdings in Atlassian were worth $41,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Atlassian during the 3rd quarter worth approximately $48,000. Brown Brothers Harriman & Co. increased its holdings 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 worth $69,000 after buying an additional 82 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Atlassian during the 3rd quarter worth approximately $103,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 15,896 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the sale, the chief executive officer now owns 429,192 shares of the company’s stock, valued at approximately $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Gene Liu sold 779 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the sale, the chief accounting officer now directly owns 52,710 shares in the company, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 264,653 shares of company stock valued at $70,451,743. Corporate insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Scotiabank raised their price target on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. KeyCorp increased their price objective on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Wells Fargo & Company increased their price objective on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Finally, The Goldman Sachs Group increased their price objective on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Trading Down 2.5 %

Shares of NASDAQ:TEAM opened at $315.00 on Wednesday. The firm’s 50-day simple moving average is $267.06 and its 200-day simple moving average is $214.47. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. As a group, equities analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

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.