Johnson Investment Counsel Inc. Invests $223,000 in Atlassian Co. (NASDAQ:TEAM)

Johnson Investment Counsel Inc. bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 918 shares of the technology company’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Atlassian by 61.4% during the third quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock valued at $1,710,000 after purchasing an additional 4,099 shares in the last quarter. GSA Capital Partners LLP boosted its stake in Atlassian by 140.4% in the 3rd quarter. GSA Capital Partners LLP now owns 4,827 shares of the technology company’s stock valued at $767,000 after buying an additional 2,819 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Atlassian by 1.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 366,254 shares of the technology company’s stock valued at $58,165,000 after acquiring an additional 6,470 shares during the period. Oppenheimer & Co. Inc. raised its stake in Atlassian by 24.4% during the third quarter. Oppenheimer & Co. Inc. now owns 1,771 shares of the technology company’s stock worth $281,000 after acquiring an additional 347 shares in the last quarter. Finally, Plato Investment Management Ltd acquired a new position in Atlassian during the third quarter worth $1,243,000. Institutional investors own 94.45% of the company’s stock.

Atlassian Trading Up 5.0 %

Shares of NASDAQ TEAM opened at $218.44 on Friday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm has a market capitalization of $57.23 billion, a P/E ratio of -163.01 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The company’s 50 day simple moving average is $273.44 and its 200 day simple moving average is $233.71.

Atlassian (NASDAQ:TEAM) last posted its quarterly 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%. On average, analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Insider Activity at Atlassian

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the transaction, the chief executive officer now owns 429,192 shares in the company, valued at $104,529,711.60. The trade was a 3.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the transaction, the president now owns 211,991 shares of the company’s stock, valued at $54,006,827.16. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 272,501 shares of company stock worth $74,167,124 in the last ninety days. Company insiders own 38.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. UBS Group upped their target price on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. The Goldman Sachs Group boosted their price target on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Jefferies Financial Group raised their price objective on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Canaccord Genuity Group boosted their target price on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $319.71.

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.