Austin Asset Management Co Inc Makes New Investment in Atlassian Co. (NASDAQ:TEAM)

Austin Asset Management Co Inc acquired a new stake in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,123 shares of the technology company’s stock, valued at approximately $273,000.

Other hedge funds have also modified their holdings of the company. True Wealth Design LLC boosted its position in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares in the last quarter. Reston Wealth Management LLC bought a new stake in Atlassian during the 3rd quarter worth approximately $48,000. Brown Brothers Harriman & Co. increased its holdings in Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 82 shares in the last quarter. Finally, Avior Wealth Management LLC raised its position in Atlassian by 66.8% in the 4th quarter. Avior Wealth Management LLC now owns 507 shares of the technology company’s stock valued at $123,000 after purchasing an additional 203 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Down 1.5 %

NASDAQ:TEAM opened at $314.28 on Friday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $324.37. The stock has a 50-day moving average price of $264.90 and a two-hundred day moving average price of $211.90. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18.

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 net margin of 7.22% and a negative return on equity of 17.37%. As a group, sell-side analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Insider Buying and Selling

In other news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.69, for a total transaction of $2,509,104.12. Following the completion of the transaction, the director now directly owns 278,180 shares of the company’s stock, valued at $87,818,644.20. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gene Liu sold 165 shares of Atlassian stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total transaction of $40,563.60. Following the completion of the sale, the chief accounting officer now owns 56,423 shares in the company, valued at $13,871,030.32. This trade represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 265,438 shares of company stock worth $70,024,411 over the last ninety days. Company insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on TEAM. Citigroup increased their target price on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Truist Financial restated a “buy” rating and issued a $350.00 price objective (up previously from $300.00) on shares of Atlassian in a research report on Friday, January 31st. Mizuho upped their target price on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Cantor Fitzgerald raised their price target on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $319.71.

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.