AFT Forsyth & Company Inc. Purchases 165 Shares of Atlassian Co. (NASDAQ:TEAM)

AFT Forsyth & Company Inc. increased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,120 shares of the technology company’s stock after acquiring an additional 165 shares during the period. AFT Forsyth & Company Inc.’s holdings in Atlassian were worth $1,489,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in TEAM. GAMMA Investing LLC boosted its holdings in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares in the last quarter. True Wealth Design LLC lifted its position in shares of 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 buying an additional 231 shares during the last quarter. Avion Wealth boosted its stake in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in Atlassian in the third quarter valued at about $48,000. Finally, Brown Brothers Harriman & Co. grew its position in Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after acquiring an additional 82 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Atlassian Trading Up 1.1 %

Shares of TEAM stock opened at $318.45 on Thursday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.18 and a current ratio of 1.24. The stock has a 50 day simple moving average of $267.99 and a two-hundred day simple moving average of $215.44. The company has a market cap of $83.43 billion, a P/E ratio of -237.65 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last announced 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%. Research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Piper Sandler increased their target price on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Raymond James reissued an “outperform” rating and issued a $330.00 price objective (up previously from $250.00) on shares of Atlassian in a research note on Friday, January 31st. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Truist Financial reiterated a “buy” rating and issued a $350.00 price target (up from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Finally, Jefferies Financial Group boosted their price objective on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $319.71.

Insider Buying and Selling at Atlassian

In related news, CAO Gene Liu sold 165 shares of Atlassian stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total value of $40,563.60. Following the completion of the sale, the chief accounting officer now owns 56,423 shares of the company’s stock, valued at approximately $13,871,030.32. This trade represents a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $244.81, for a total transaction of $1,945,749.88. Following the transaction, the director now owns 214,596 shares in the company, valued at approximately $52,535,246.76. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 264,653 shares of company stock valued at $70,451,743. Corporate insiders own 38.55% of the company’s stock.

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.