Jefferies Financial Group Inc. Invests $1.70 Million in Atlassian Co. (NASDAQ:TEAM)

Jefferies Financial Group Inc. bought a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,995 shares of the technology company’s stock, valued at approximately $1,702,000.

Other large investors have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Atlassian during the 4th quarter worth approximately $27,000. Colonial Trust Co SC boosted its position in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after acquiring an additional 69 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Atlassian during the 4th quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Atlassian during the 4th quarter worth approximately $39,000. Finally, Avion Wealth boosted its position in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after acquiring an additional 157 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Monday, April 7th. The shares were sold at an average price of $185.61, for a total transaction of $1,475,228.28. Following the completion of the transaction, the director now owns 333,816 shares of the company’s stock, valued at $61,959,587.76. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.58, for a total transaction of $475,121.60. Following the transaction, the president now directly owns 201,657 shares of the company’s stock, valued at $63,033,945.06. This represents a 0.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 252,786 shares of company stock valued at $58,795,052 over the last quarter. Insiders own 38.55% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $224.88 on Thursday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The firm’s fifty day moving average is $213.87 and its 200-day moving average is $246.53. The firm has a market cap of $58.92 billion, a PE ratio of -167.82 and a beta of 1.06. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TEAM. UBS Group reduced their price target on shares of Atlassian from $230.00 to $215.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Canaccord Genuity Group cut their target price on shares of Atlassian from $300.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. BMO Capital Markets cut their target price on shares of Atlassian from $295.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Cantor Fitzgerald upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and cut their target price for the company from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Finally, William Blair restated an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $285.29.

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.