Kestra Investment Management LLC Makes New $56,000 Investment in Atlassian Co. (NASDAQ:TEAM)

Kestra Investment Management LLC purchased a new position in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 232 shares of the technology company’s stock, valued at approximately $56,000.

A number of other hedge funds have also recently added to or reduced their stakes in TEAM. Allworth Financial LP lifted its stake in shares of Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after purchasing an additional 47 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after purchasing an additional 54 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Atlassian by 4.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock valued at $357,000 after purchasing an additional 56 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of Atlassian by 1.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock valued at $963,000 after purchasing an additional 59 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its stake in shares of Atlassian by 2.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after purchasing an additional 70 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Gene Liu sold 779 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction 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 represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $322.31, for a total value of $2,561,719.88. Following the transaction, the chief executive officer now owns 270,232 shares of the company’s stock, valued at approximately $87,098,475.92. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 283,449 shares of company stock worth $77,580,151 in the last three months. 38.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TEAM has been the topic of several research analyst reports. Mizuho lifted 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. Piper Sandler raised their target price on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Scotiabank raised their target price on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Citigroup raised their target price on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, KeyCorp raised their target price on Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Stock Performance

TEAM stock opened at $285.99 on Friday. 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 cap of $74.93 billion, a P/E ratio of -213.42 and a beta of 0.87. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The stock’s 50 day simple moving average is $272.83 and its 200 day simple moving average is $221.70.

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