TD Private Client Wealth LLC Boosts Holdings in Atlassian Co. (NASDAQ:TEAM)

TD Private Client Wealth LLC increased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 9,292.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,862 shares of the technology company’s stock after buying an additional 9,757 shares during the quarter. TD Private Client Wealth LLC’s holdings in Atlassian were worth $2,400,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Avion Wealth boosted its position in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after purchasing an additional 157 shares during the period. Assetmark Inc. raised its holdings in shares of Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after buying an additional 41 shares during the period. Mainstream Capital Management LLC acquired a new position in Atlassian during the 4th quarter worth about $49,000. True Wealth Design LLC boosted its holdings in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in Atlassian in the 4th quarter valued at about $56,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Raymond James reissued an “outperform” rating and set a $330.00 price target (up previously from $250.00) on shares of Atlassian in a research report on Friday, January 31st. KeyCorp increased their target price on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Piper Sandler boosted their price target on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Truist Financial reiterated a “buy” rating and issued a $350.00 price objective (up from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Finally, UBS Group boosted their target price on Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $316.77.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 15,896 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $243.55, for a total value of $3,871,470.80. Following the transaction, the chief executive officer now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $218.05, for a total transaction of $1,733,061.40. Following the completion of the sale, the director now owns 119,220 shares of the company’s stock, valued at $25,995,921. This trade represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock valued at $71,015,177 in the last ninety days. Insiders own 38.55% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $227.34 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market cap of $59.56 billion, a P/E ratio of -169.66 and a beta of 0.91. The stock has a 50 day moving average of $271.24 and a two-hundred day moving average of $235.79. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00.

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

Atlassian 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.