490 Shares in Atlassian Co. (NASDAQ:TEAM) Purchased by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 490 shares of the technology company’s stock, valued at approximately $119,000.

Several other large investors have also recently made changes to their positions in TEAM. GAMMA Investing LLC grew its stake in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the last quarter. True Wealth Design LLC boosted its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Atlassian in the third quarter worth $48,000. Brown Brothers Harriman & Co. increased its holdings in shares of Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after acquiring an additional 82 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Atlassian in the 3rd quarter worth about $103,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on TEAM shares. Barclays increased their price objective on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Oppenheimer increased their price target on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Truist Financial restated a “buy” rating and issued a $350.00 price objective (up from $300.00) on shares of Atlassian in a report on Friday, January 31st. Macquarie increased their target price on Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research note on Friday. Finally, The Goldman Sachs Group lifted their target price on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $319.71.

Insider Activity

In other Atlassian news, CEO Michael Cannon-Brookes sold 15,896 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the completion of the sale, the chief executive officer now owns 429,192 shares in the company, valued at approximately $104,529,711.60. This represents a 3.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,659 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $245.81, for a total value of $407,798.79. Following the completion of the transaction, the president now owns 213,511 shares in the company, valued at $52,483,138.91. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 256,705 shares of company stock valued at $67,890,023 in the last ninety days. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Up 2.8 %

TEAM opened at $322.94 on Tuesday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The firm’s 50 day simple moving average is $265.92 and its two-hundred day simple moving average is $213.45. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $84.61 billion, a PE ratio of -241.00 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last announced its 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%. As a group, equities analysts forecast that Atlassian Co. will post -0.34 EPS 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.