Transcend Capital Advisors LLC Makes New $305,000 Investment in Atlassian Co. (NASDAQ:TEAM)

Transcend Capital Advisors LLC acquired a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 1,252 shares of the technology company’s stock, valued at approximately $305,000.

Several other hedge funds also recently made changes to their positions in TEAM. True Wealth Design LLC grew its holdings in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares during the last quarter. Avion Wealth boosted its stake in shares of Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after buying an additional 157 shares during the period. Reston Wealth Management LLC acquired a new stake in shares of Atlassian during the third quarter worth about $48,000. Kestra Investment Management LLC acquired a new stake in shares of Atlassian during the fourth quarter worth about $56,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Atlassian by 23.2% during the third 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 period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. KeyCorp increased their target price on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Truist Financial reiterated a “buy” rating and set a $350.00 target price (up previously from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Morgan Stanley raised their price objective on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, JMP Securities restated a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Trading Down 4.2 %

Shares of Atlassian stock opened at $285.99 on Monday. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. 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 $74.93 billion, a PE ratio of -213.42 and a beta of 0.87. The company has a 50-day moving average of $272.98 and a two-hundred day moving average of $223.88.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (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 17.37%. On average, research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at $104,529,711.60. This trade represents a 3.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the transaction, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,501 shares of company stock valued at $75,480,290 in the last ninety days. Corporate insiders own 38.55% of the company’s stock.

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.