Atlassian Co. (NASDAQ:TEAM) Shares Bought by Fortis Capital Advisors LLC

Fortis Capital Advisors LLC increased its position in Atlassian Co. (NASDAQ:TEAM) by 7.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,232 shares of the technology company’s stock after acquiring an additional 289 shares during the period. Fortis Capital Advisors LLC’s holdings in Atlassian were worth $1,007,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Atlassian by 271.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after acquiring an additional 271 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Atlassian by 255.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after acquiring an additional 291 shares during the period. GAMMA Investing LLC acquired a new stake in Atlassian during the 4th quarter valued at $107,000. Operose Advisors LLC acquired a new stake in Atlassian during the 3rd quarter valued at $99,000. Finally, Valley National Advisers Inc. grew its holdings in Atlassian by 30.4% during the 4th quarter. Valley National Advisers Inc. now owns 579 shares of the technology company’s stock valued at $137,000 after buying an additional 135 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TEAM. Piper Sandler lowered their target price on Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. KeyCorp began coverage on Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Robert W. Baird lowered their target price on Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Canaccord Genuity Group reduced their price target on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Finally, Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $235.00 to $275.00 in a research note on Thursday, April 11th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.22.

Insider Activity

In other news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $204.79, for a total transaction of $1,687,674.39. Following the completion of the sale, the chief executive officer now directly owns 189,543 shares in the company, valued at $38,816,510.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Gene Liu sold 199 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total transaction of $36,665.75. Following the completion of the sale, the chief accounting officer now directly owns 45,666 shares in the company, valued at $8,413,960.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $204.79, for a total value of $1,687,674.39. Following the sale, the chief executive officer now owns 189,543 shares of the company’s stock, valued at $38,816,510.97. The disclosure for this sale can be found here. Insiders sold 300,608 shares of company stock worth $57,924,835 over the last ninety days. Corporate insiders own 40.48% of the company’s stock.

Atlassian Stock Down 3.1 %

NASDAQ:TEAM traded down $5.32 during mid-day trading on Friday, hitting $168.86. The company had a trading volume of 1,928,281 shares, compared to its average volume of 1,716,420. The business has a fifty day simple moving average of $189.37 and a 200-day simple moving average of $205.74. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a 1 year low of $156.44 and a 1 year high of $258.69. The firm has a market capitalization of $43.95 billion, a price-to-earnings ratio of -268.03 and a beta of 0.67.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company posted ($0.40) earnings per share. The firm’s revenue was up 29.9% compared to the same quarter last year. Equities analysts forecast that Atlassian Co. will post -0.23 earnings per share for the current fiscal year.

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.