Atlassian Co. (NASDAQ:TEAM) Holdings Increased by Donoghue Forlines LLC

Donoghue Forlines LLC increased its stake in Atlassian Co. (NASDAQ:TEAM) by 176.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,779 shares of the technology company’s stock after acquiring an additional 4,961 shares during the period. Donoghue Forlines LLC’s holdings in Atlassian were worth $1,893,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC grew its holdings in Atlassian by 66.8% during the fourth quarter. Avior Wealth Management LLC now owns 507 shares of the technology company’s stock worth $123,000 after acquiring an additional 203 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Atlassian by 3,951.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 149,690 shares of the technology company’s stock worth $36,432,000 after purchasing an additional 145,995 shares during the last quarter. Genesis Private Wealth LLC bought a new stake in shares of Atlassian in the 4th quarter worth approximately $206,000. Sheets Smith Wealth Management acquired a new stake in Atlassian during the fourth quarter valued at approximately $706,000. Finally, Atomi Financial Group Inc. bought a new stake in Atlassian during the fourth quarter worth approximately $440,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Robert W. Baird upped their price target on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Citigroup boosted their target price on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Raymond James increased their price target on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Finally, UBS Group raised their target price on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $272.00.

Atlassian Stock Performance

NASDAQ:TEAM opened at $261.36 on Thursday. The firm has a market capitalization of $68.07 billion, a PE ratio of -171.66 and a beta of 0.83. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $287.97. The firm has a 50-day moving average price of $256.71 and a 200 day moving average price of $203.21.

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

Insider Buying and Selling at Atlassian

In other news, CAO Gene Liu sold 1,024 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $230,860.80. Following the completion of the sale, the chief accounting officer now owns 59,168 shares of the company’s stock, valued at approximately $13,339,425.60. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $219.07, for a total value of $1,741,168.36. Following the completion of the transaction, the director now directly owns 309,972 shares in the company, valued at $67,905,566.04. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 272,188 shares of company stock valued at $66,820,848. 38.55% of the stock is currently owned by company insiders.

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.