True Wealth Design LLC Grows Position in Atlassian Co. (NASDAQ:TEAM)

True Wealth Design LLC raised its position in Atlassian Co. (NASDAQ:TEAM) by 23,100.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 232 shares of the technology company’s stock after purchasing an additional 231 shares during the quarter. True Wealth Design LLC’s holdings in Atlassian were worth $37,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TEAM. Dragoneer Investment Group LLC purchased a new stake in shares of Atlassian in the second quarter worth approximately $469,803,000. Manning & Napier Advisors LLC purchased a new stake in Atlassian in the second quarter worth $91,072,000. Westfield Capital Management Co. LP bought a new stake in shares of Atlassian during the third quarter worth $57,149,000. Parnassus Investments LLC boosted its stake in shares of Atlassian by 322.9% during the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after purchasing an additional 245,286 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Atlassian by 657.5% in the second quarter. Assenagon Asset Management S.A. now owns 239,509 shares of the technology company’s stock worth $42,364,000 after purchasing an additional 207,891 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TEAM shares. Morgan Stanley lifted their price objective on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Mizuho boosted their price target on Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Barclays reduced their price objective on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Jefferies Financial Group upped their target price on Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, KeyCorp upgraded Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective for the company in a report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $244.21.

Insider Activity

In related news, CAO Gene Liu sold 165 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total value of $40,563.60. Following the sale, the chief accounting officer now owns 56,423 shares in the company, valued at $13,871,030.32. This represents a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $160.97, for a total transaction of $1,279,389.56. Following the transaction, the chief executive officer now directly owns 135,116 shares of the company’s stock, valued at $21,749,622.52. This represents a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 257,694 shares of company stock valued at $50,560,726 over the last ninety days. 38.55% of the stock is currently owned by insiders.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $263.58 on Monday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $269.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market cap of $68.64 billion, a PE ratio of -173.41 and a beta of 0.71. The business has a 50-day simple moving average of $206.56 and a two-hundred day simple moving average of $179.79.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned ($0.07) EPS. As a group, equities analysts expect that Atlassian Co. will post -0.54 EPS for the current fiscal 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.