Genesis Private Wealth LLC Purchases New Position in Atlassian Co. (NASDAQ:TEAM)

Genesis Private Wealth LLC purchased 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 (SEC). The institutional investor purchased 846 shares of the technology company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC boosted its position in Atlassian by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after purchasing an additional 54 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its holdings in shares of Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after buying an additional 70 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after buying an additional 82 shares during the period. Commerce Bank raised its position in Atlassian by 1.8% in the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after acquiring an additional 90 shares during the period. Finally, Signaturefd LLC boosted its stake in shares of Atlassian by 4.8% during the 3rd quarter. Signaturefd LLC now owns 2,411 shares of the technology company’s stock worth $383,000 after acquiring an additional 111 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TEAM has been the subject of several analyst reports. UBS Group upped their price objective on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group raised their price objective on Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Citigroup increased their target price on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Macquarie assumed 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. Finally, Cantor Fitzgerald began coverage on shares of Atlassian in a research note on Friday, January 17th. They issued a “neutral” rating and a $264.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $272.00.

Insider Activity

In other news, President Anutthara Bharadwaj sold 4,560 shares of Atlassian stock in a transaction on Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $1,028,052.00. Following the transaction, the president now directly owns 224,436 shares in the company, valued at approximately $50,599,096.20. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $219.07, for a total value of $1,741,168.36. Following the completion of the transaction, the director now owns 309,972 shares in the company, valued at $67,905,566.04. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 272,188 shares of company stock worth $66,820,848. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Up 1.8 %

Shares of NASDAQ:TEAM opened at $260.85 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The business’s 50 day moving average is $256.71 and its 200 day moving average is $203.21. The stock has a market cap of $67.93 billion, a P/E ratio of -171.61 and a beta of 0.83. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted ($0.07) earnings per share. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. Sell-side analysts predict that Atlassian Co. will post -0.55 EPS 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.