Legacy Wealth Asset Management LLC Purchases 259 Shares of Atlassian Co. (NASDAQ:TEAM)

Legacy Wealth Asset Management LLC lifted its holdings in Atlassian Co. (NASDAQ:TEAM) by 8.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,354 shares of the technology company’s stock after purchasing an additional 259 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Atlassian were worth $654,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TEAM. O Shaughnessy Asset Management LLC purchased a new position in shares of Atlassian during the 3rd quarter worth $701,000. Bank of Nova Scotia bought a new stake in Atlassian during the third quarter valued at about $347,000. Gotham Asset Management LLC increased its position in Atlassian by 348.5% in the third quarter. Gotham Asset Management LLC now owns 11,836 shares of the technology company’s stock worth $2,385,000 after buying an additional 9,197 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Atlassian in the third quarter worth about $672,000. Finally, Truist Financial Corp lifted its position in shares of Atlassian by 5.6% during the 3rd quarter. Truist Financial Corp now owns 121,289 shares of the technology company’s stock valued at $24,441,000 after buying an additional 6,424 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Trading Down 0.0 %

Shares of NASDAQ TEAM opened at $182.26 on Friday. The business’s 50 day moving average price is $170.92 and its 200-day moving average price is $200.54. Atlassian Co. has a fifty-two week low of $152.34 and a fifty-two week 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. The company has a market cap of $47.44 billion, a price-to-earnings ratio of -289.30 and a beta of 0.74.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the company earned ($0.40) earnings per share. On average, sell-side analysts expect that Atlassian Co. will post -0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on TEAM. Canaccord Genuity Group decreased their target price on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Robert W. Baird lowered their target price on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Truist Financial cut their price target on Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Wells Fargo & Company lowered their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Finally, Oppenheimer cut their target price on Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $226.94.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $201.81, for a total transaction of $1,663,116.21. Following the transaction, the chief executive officer now directly owns 448,860 shares of the company’s stock, valued at $90,584,436.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $193.63, for a total transaction of $147,158.80. Following the transaction, the president now directly owns 162,610 shares in the company, valued at approximately $31,486,174.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $201.81, for a total transaction of $1,663,116.21. Following the transaction, the chief executive officer now directly owns 448,860 shares in the company, valued at approximately $90,584,436.60. The disclosure for this sale can be found here. Insiders sold a total of 279,561 shares of company stock valued at $49,794,081 in the last three months. Company insiders own 40.48% of the company’s stock.

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.