RFG Advisory LLC Boosts Position in Atlassian Co. (NASDAQ:TEAM)

RFG Advisory LLC lifted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 5.7% during the first quarter, HoldingsChannel.com reports. The fund owned 1,952 shares of the technology company’s stock after buying an additional 106 shares during the quarter. RFG Advisory LLC’s holdings in Atlassian were worth $381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after purchasing an additional 271 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Atlassian by 255.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after buying an additional 291 shares during the period. GAMMA Investing LLC bought a new stake in shares of Atlassian in the fourth quarter valued at about $107,000. Operose Advisors LLC purchased a new stake in Atlassian in the third quarter worth about $99,000. Finally, Newbridge Financial Services Group Inc. grew its holdings in Atlassian by 38.9% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 536 shares of the technology company’s stock worth $127,000 after acquiring an additional 150 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Insider Buying and Selling at Atlassian

In related news, CAO Gene Liu sold 199 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $184.25, for a total transaction of $36,665.75. Following the completion of the transaction, the chief accounting officer now owns 45,666 shares of the company’s stock, valued at $8,413,960.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Gene Liu sold 199 shares of Atlassian stock in a transaction that occurred on 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 transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $153.84, for a total value of $1,222,720.32. Following the completion of the sale, the chief executive officer now owns 55,636 shares in the company, valued at approximately $8,559,042.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 272,785 shares of company stock worth $49,308,467. Company insiders own 40.48% of the company’s stock.

Atlassian Stock Performance

Shares of TEAM stock opened at $164.75 on Tuesday. The business has a fifty day moving average of $173.97 and a 200 day moving average of $202.28. Atlassian Co. has a 1 year low of $152.34 and a 1 year high of $258.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the business posted ($0.40) earnings per share. Equities research analysts anticipate that Atlassian Co. will post -0.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Friday, June 7th. Mizuho dropped their target price on Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Citigroup reduced their price target on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, April 12th. KeyCorp initiated coverage on Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Finally, Wells Fargo & Company cut their target price on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $221.28.

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.