Genesis Private Wealth LLC Purchases Shares of 846 Atlassian Co. (NASDAQ:TEAM)

Genesis Private Wealth LLC purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, Holdings Channel.com reports. The fund purchased 846 shares of the technology company’s stock, valued at approximately $206,000.

Several other hedge funds have also recently modified their holdings of TEAM. True Wealth Design LLC grew its position in 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 purchasing an additional 231 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of Atlassian in the 3rd quarter valued at $48,000. Quarry LP raised its stake in Atlassian by 143.8% in the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock worth $66,000 after acquiring an additional 220 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after acquiring an additional 82 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $189.75, for a total value of $1,508,133.00. Following the completion of the sale, the chief executive officer now owns 357,660 shares of the company’s stock, valued at approximately $67,865,985. This represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Heather Mirjahangir Fernandez sold 1,500 shares of Atlassian stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $338,175.00. Following the transaction, the director now directly owns 8,610 shares in the company, valued at $1,941,124.50. This trade represents a 14.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 272,188 shares of company stock worth $66,820,848 in the last three months. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Performance

NASDAQ:TEAM opened at $260.85 on Thursday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97. The company has a market cap of $67.93 billion, a P/E ratio of -171.61 and a beta of 0.83. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The company’s 50-day moving average price is $256.71 and its 200-day moving average price is $203.21.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business’s revenue was up 21.5% on a year-over-year basis. During the same period last year, the company posted ($0.07) EPS. On average, sell-side analysts forecast that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on TEAM. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. UBS Group raised their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Morgan Stanley upped their price objective on shares of Atlassian from $259.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Oppenheimer raised their target price on shares of Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Finally, Cantor Fitzgerald began coverage on shares of Atlassian in a report on Friday, January 17th. They issued a “neutral” rating and a $264.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.00.

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.