J.W. Cole Advisors Inc. Purchases 59 Shares of Atlassian Co. (NASDAQ:TEAM)

J.W. Cole Advisors Inc. lifted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,958 shares of the technology company’s stock after acquiring an additional 59 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Atlassian were worth $963,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TEAM. Virtu Financial LLC bought a new stake in Atlassian in the 3rd quarter valued at about $606,000. Sequoia Financial Advisors LLC increased its holdings in shares of Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after purchasing an additional 520 shares during the period. Fulton Bank N.A. purchased a new stake in shares of Atlassian in the 4th quarter valued at about $447,000. Paloma Partners Management Co purchased a new stake in Atlassian in the third quarter valued at approximately $1,588,000. Finally, Impax Asset Management Group plc lifted its position in Atlassian by 590.6% during the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after purchasing an additional 31,986 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on TEAM. KeyCorp raised their price objective on shares of Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Cantor Fitzgerald lifted their price target on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Piper Sandler increased their price objective on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Macquarie boosted their target price on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group upped their target price on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Insider Buying and Selling at Atlassian

In related news, CAO Gene Liu sold 779 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the transaction, the chief accounting officer now directly owns 52,710 shares in the company, valued at $16,867,727.10. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the transaction, the chief executive officer now owns 429,192 shares of the company’s stock, valued at $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 265,830 shares of company stock valued at $72,193,305. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Price Performance

Shares of Atlassian stock opened at $315.44 on Wednesday. The business has a 50 day moving average of $270.89 and a 200 day moving average of $219.37. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a market cap of $82.65 billion, a PE ratio of -235.40 and a beta of 0.87. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, equities research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

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.