Stonebridge Financial Group LLC Invests $290,000 in Atlassian Co. (NASDAQ:TEAM)

Stonebridge Financial Group LLC purchased a new stake in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,192 shares of the technology company’s stock, valued at approximately $290,000.

A number of other institutional investors also recently modified their holdings of TEAM. GAMMA Investing LLC raised its holdings in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the period. True Wealth Design LLC lifted 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 worth $37,000 after purchasing an additional 231 shares in the last quarter. Reston Wealth Management LLC purchased a new position in Atlassian during the 3rd quarter valued at about $48,000. Brown Brothers Harriman & Co. increased its position 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 valued at $69,000 after buying an additional 82 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Atlassian in the third quarter worth about $103,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Trading Down 2.5 %

TEAM opened at $315.00 on Wednesday. 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 1.18 and a debt-to-equity ratio of 0.81. The business’s 50-day moving average price is $267.06 and its 200-day moving average price is $214.47.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates 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, analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Insider Activity at Atlassian

In other news, CAO Gene Liu sold 779 shares of the business’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. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $244.81, for a total value of $1,945,749.88. Following the completion of the sale, the director now directly owns 214,596 shares of the company’s stock, valued at $52,535,246.76. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 264,653 shares of company stock worth $70,451,743 in the last three months. 38.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TEAM shares. Scotiabank boosted their price objective on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” 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 boosted their price target for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Citigroup increased their price objective on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Barclays boosted their target price on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Raymond James reaffirmed an “outperform” rating and issued a $330.00 price target (up previously from $250.00) on shares of Atlassian in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Company 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.