Brighton Jones LLC Invests $210,000 in Atlassian Co. (NASDAQ:TEAM)

Brighton Jones LLC bought a new position in shares of Atlassian Co. (NASDAQ:TEAM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 882 shares of the technology company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Baillie Gifford & Co. lifted its holdings in Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after purchasing an additional 1,511,318 shares during the last quarter. Morgan Stanley lifted its holdings in Atlassian by 156.8% during the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after purchasing an additional 1,095,297 shares during the last quarter. WCM Investment Management LLC lifted its holdings in Atlassian by 2.7% during the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock worth $2,325,490,000 after purchasing an additional 249,017 shares during the last quarter. American Century Companies Inc. lifted its holdings in Atlassian by 58.7% during the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock worth $86,672,000 after purchasing an additional 159,102 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Atlassian by 45.8% in the 3rd quarter. Invesco Ltd. now owns 476,920 shares of the technology company’s stock valued at $96,104,000 after acquiring an additional 149,850 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on TEAM. TD Cowen dropped their price objective on Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a report on Friday, April 26th. Piper Sandler dropped their price objective on Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, April 26th. The Goldman Sachs Group lifted their price objective on Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Citigroup dropped their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a report on Friday, April 12th. Finally, Mizuho lowered their price target on Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 26th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $223.22.

Atlassian Trading Down 0.0 %

NASDAQ TEAM opened at $183.52 on Friday. The business’s 50-day moving average price is $197.23 and its two-hundred day moving average price is $205.93. Atlassian Co. has a 12 month low of $128.02 and a 12 month high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 0.82.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the company posted ($0.40) EPS. The business’s revenue was up 29.9% on a year-over-year basis. Sell-side analysts expect that Atlassian Co. will post -0.29 earnings per share for the current year.

Insider Activity

In other news, CAO Gene Liu sold 227 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the transaction, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Gene Liu sold 227 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the transaction, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $218.32, for a total value of $1,799,175.12. Following the completion of the transaction, the chief executive officer now directly owns 263,712 shares in the company, valued at $57,573,603.84. The disclosure for this sale can be found here. Insiders have sold 300,450 shares of company stock valued at $60,110,850 in the last ninety days. 40.48% of the stock is owned by company insiders.

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.