Cetera Investment Advisers Acquires 2,091 Shares of Atlassian Co. (NASDAQ:TEAM)

Cetera Investment Advisers lifted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 11.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,639 shares of the technology company’s stock after purchasing an additional 2,091 shares during the period. Cetera Investment Advisers’ holdings in Atlassian were worth $5,023,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Allworth Financial LP raised its stake in shares of Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after purchasing an additional 47 shares during the period. Pallas Capital Advisors LLC raised its stake in shares of Atlassian by 185.9% during the 4th quarter. Pallas Capital Advisors LLC now owns 4,245 shares of the technology company’s stock worth $1,033,000 after purchasing an additional 2,760 shares during the period. Slow Capital Inc. raised its stake in shares of Atlassian by 2.9% during the 4th quarter. Slow Capital Inc. now owns 33,879 shares of the technology company’s stock worth $8,245,000 after purchasing an additional 959 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Atlassian by 3,951.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 149,690 shares of the technology company’s stock worth $36,432,000 after purchasing an additional 145,995 shares during the period. Finally, SYM FINANCIAL Corp bought a new stake in shares of Atlassian during the 4th quarter worth $230,000. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TEAM shares. Scotiabank boosted their price objective on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. JMP Securities restated a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Jefferies Financial Group lowered their price objective on Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Mizuho boosted their price objective on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Finally, StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $285.29.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.58, for a total value of $475,121.60. Following the completion of the sale, the president now owns 201,657 shares of the company’s stock, valued at $63,033,945.06. This represents a 0.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joseph Leo Binz sold 2,587 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.09, for a total value of $807,376.83. Following the sale, the chief financial officer now directly owns 169,342 shares of the company’s stock, valued at approximately $52,849,944.78. This trade represents a 1.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 252,786 shares of company stock valued at $58,795,052 over the last quarter. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Up 2.6%

Shares of NASDAQ TEAM opened at $229.52 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 1.24 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $60.13 billion, a price-to-earnings ratio of -171.28 and a beta of 1.06. The business has a 50-day moving average of $214.30 and a 200-day moving average of $246.65.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Atlassian’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Sell-side analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

About Atlassian

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.