Avion Wealth Grows Stake in Atlassian Co. (NASDAQ:TEAM)

Avion Wealth increased its stake in Atlassian Co. (NASDAQ:TEAM) by 1,308.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 169 shares of the technology company’s stock after acquiring an additional 157 shares during the period. Avion Wealth’s holdings in Atlassian were worth $41,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares during the period. True Wealth Design LLC boosted its position 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 valued at $37,000 after buying an additional 231 shares during the period. Reston Wealth Management LLC purchased a new position in shares of Atlassian during the third quarter valued at approximately $48,000. Brown Brothers Harriman & Co. boosted its position 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 buying an additional 82 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in shares of Atlassian during the third quarter valued at approximately $103,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TEAM. William Blair restated an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Jefferies Financial Group boosted their price target on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, January 24th. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $255.00 to $292.00 in a report on Friday, January 10th. Finally, Macquarie boosted their price target on Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and seventeen 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 an average price target of $319.71.

Atlassian Stock Down 2.5 %

Shares of TEAM opened at $315.00 on Wednesday. The company’s fifty day moving average price is $267.06 and its 200-day moving average price is $214.47. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate 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 anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the completion of the transaction, the chief executive officer now owns 270,232 shares in the company, valued at $87,098,475.92. This represents a 2.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,659 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total transaction of $407,798.79. Following the transaction, the president now owns 213,511 shares of the company’s stock, valued at approximately $52,483,138.91. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 264,653 shares of company stock valued at $70,451,743 in the last ninety days. 38.55% of the stock is currently owned by corporate 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.