Western Financial Corp CA Takes Position in Atlassian Co. (NASDAQ:TEAM)

Western Financial Corp CA acquired a new position in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,207 shares of the technology company’s stock, valued at approximately $537,000.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake 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 purchasing an additional 96 shares in the last quarter. True Wealth Design LLC raised its position in shares of Atlassian by 23,100.0% in 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 last quarter. Reston Wealth Management LLC purchased a new stake in shares of Atlassian in the 3rd quarter valued at approximately $48,000. Quarry LP grew its stake in shares of Atlassian by 143.8% in the second quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after buying an additional 220 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after buying an additional 82 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $219.07, for a total value of $1,741,168.36. Following the sale, the director now directly owns 309,972 shares in the company, valued at $67,905,566.04. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Gene Liu sold 165 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the sale, the chief accounting officer now directly owns 56,423 shares in the company, valued at $13,871,030.32. The trade was a 0.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 257,156 shares of company stock valued at $65,313,573 in the last quarter. 38.55% of the stock is currently owned by company insiders.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $306.78 on Friday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $324.37. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The company has a 50 day moving average price of $260.51 and a two-hundred day moving average price of $208.06.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. As a group, analysts forecast that Atlassian Co. will post -0.55 EPS for the current year.

Analyst Upgrades and Downgrades

TEAM has been the topic of several analyst reports. Piper Sandler increased their price objective on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday. JMP Securities reissued a “market perform” rating on shares of Atlassian in a research report on Friday. UBS Group lifted their price objective on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday. Scotiabank increased their target price on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a report on Friday. Finally, Wells Fargo & Company upped their price objective on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $307.00.

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.