Mesirow Financial Investment Management Inc. Purchases Shares of 942 Atlassian Co. (NASDAQ:TEAM)

Mesirow Financial Investment Management Inc. purchased a new stake in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 942 shares of the technology company’s stock, valued at approximately $229,000.

Other large investors have also recently bought and sold shares of the company. True Wealth Design LLC increased its holdings in shares of Atlassian by 23,100.0% during the third 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 period. Avion Wealth increased its holdings in shares of Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after purchasing an additional 157 shares during the period. Assetmark Inc. increased its holdings in shares of Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares during the period. Mainstream Capital Management LLC bought a new position in shares of Atlassian during the fourth quarter worth approximately $49,000. Finally, Kestra Investment Management LLC bought a new position in shares of Atlassian during the fourth quarter worth approximately $56,000. 94.45% of the stock is owned by institutional investors.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 1,723 shares of Atlassian stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total transaction of $526,962.32. Following the completion of the transaction, the president now owns 199,934 shares of the company’s stock, valued at $61,147,814.56. This trade represents a 0.85 % 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, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $269.35, for a total transaction of $2,140,793.80. Following the transaction, the director now directly owns 111,272 shares of the company’s stock, valued at $29,971,113.20. This represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 272,501 shares of company stock worth $74,977,422. Company insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Scotiabank lifted their price objective on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Citigroup lifted their price objective on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th. The Goldman Sachs Group lifted their price objective on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Finally, Macquarie lifted their price objective on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $238.86 on Monday. The firm has a market cap of $62.58 billion, a PE ratio of -178.25 and a beta of 0.91. The firm’s fifty day moving average is $276.11 and its 200-day moving average is $232.69. 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 Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

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

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.