Decker Retirement Planning Inc. Buys New Stake in Atlassian Co. (NASDAQ:TEAM)

Decker Retirement Planning Inc. bought a new stake in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 17,973 shares of the technology company’s stock, valued at approximately $4,374,000. Atlassian comprises about 2.5% of Decker Retirement Planning Inc.’s holdings, making the stock its 15th largest position.

A number of other hedge funds have also recently modified their holdings of the stock. Baillie Gifford & Co. grew its position in shares of Atlassian by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after buying an additional 78,454 shares during the last quarter. State Street Corp grew its position in shares of Atlassian by 0.3% in the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after buying an additional 8,957 shares during the last quarter. Dragoneer Investment Group LLC purchased a new position in Atlassian during the 2nd quarter worth $469,803,000. JPMorgan Chase & Co. grew its position in Atlassian by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after purchasing an additional 131,621 shares during the last quarter. Finally, FMR LLC grew its position in Atlassian by 7.4% during the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after purchasing an additional 150,237 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Macquarie assumed coverage on shares of Atlassian in a research report on Thursday, December 12th. They set a “neutral” rating and a $290.00 price objective on the stock. Raymond James raised their price objective on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group raised their price objective on shares of Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Oppenheimer raised their price objective on shares of Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company raised their price objective on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $270.33.

Atlassian Trading Up 1.7 %

Shares of TEAM stock opened at $254.25 on Friday. The stock has a market cap of $66.21 billion, a price-to-earnings ratio of -167.27 and a beta of 0.83. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97. The firm’s 50 day moving average price is $256.07 and its two-hundred day moving average price is $201.44.

Atlassian (NASDAQ:TEAM) last announced 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 firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) earnings per share. On average, analysts anticipate that Atlassian Co. will post -0.55 EPS for the current year.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the sale, the president now directly owns 211,991 shares of the company’s stock, valued at $54,006,827.16. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $278.79, for a total transaction of $2,215,822.92. Following the completion of the sale, the chief executive officer now directly owns 135,116 shares in the company, valued at $37,668,989.64. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 270,668 shares of company stock valued at $65,408,691. Corporate 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.