Austin Asset Management Co Inc Purchases Shares of 1,123 Atlassian Co. (NASDAQ:TEAM)

Austin Asset Management Co Inc acquired a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,123 shares of the technology company’s stock, valued at approximately $273,000.

Several other large investors also recently made changes to their positions in TEAM. Sanctuary Advisors LLC acquired a new stake in Atlassian in the second quarter valued at $1,022,000. GAMMA Investing LLC raised 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 during the period. CWM LLC grew its holdings in Atlassian by 270.6% during the third quarter. CWM LLC now owns 7,875 shares of the technology company’s stock worth $1,251,000 after purchasing an additional 5,750 shares during the period. Perpetual Ltd acquired a new position in Atlassian during the third quarter worth approximately $882,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in Atlassian by 227.2% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,214 shares of the technology company’s stock valued at $193,000 after buying an additional 843 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, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.69, for a total transaction of $2,509,104.12. Following the sale, the director now owns 278,180 shares in the company, valued at $87,818,644.20. The trade was a 2.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Gene Liu sold 779 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the transaction, the chief accounting officer now owns 52,710 shares of the company’s stock, valued at $16,867,727.10. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 265,438 shares of company stock worth $70,024,411 over the last 90 days. Insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

Shares of Atlassian stock opened at $314.28 on Friday. The company has a 50 day moving average of $264.90 and a 200-day moving average of $211.90. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $324.37.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Cantor Fitzgerald upped their price objective on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a report on Friday, January 31st. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Robert W. Baird upped their price target on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, UBS Group raised their price objective on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Company 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.