Legacy Wealth Asset Management LLC Grows Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Legacy Wealth Asset Management LLC lifted its holdings in Atlassian Co. (NASDAQ:TEAM) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,428 shares of the technology company’s stock after acquiring an additional 70 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Atlassian were worth $544,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TEAM. Hennion & Walsh Asset Management Inc. grew its position in Atlassian by 36.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 1,869 shares of the technology company’s stock worth $297,000 after purchasing an additional 500 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Atlassian in the third quarter worth about $97,350,000. Stanley Laman Group Ltd. acquired a new stake in Atlassian during the third quarter worth about $6,046,000. Eastern Bank purchased a new position in Atlassian during the third quarter valued at approximately $217,000. Finally, Signaturefd LLC lifted its holdings in Atlassian by 4.8% in the third quarter. Signaturefd LLC now owns 2,411 shares of the technology company’s stock valued at $383,000 after acquiring an additional 111 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of analyst reports. Canaccord Genuity Group raised their price objective on shares of Atlassian from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Oppenheimer reissued an “outperform” rating and set a $230.00 target price on shares of Atlassian in a research note on Monday, September 23rd. Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target for the company in a research note on Thursday, July 11th. Finally, Scotiabank lowered their price target on Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have assigned 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 $212.47.

Insiders Place Their Bets

In related news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $178.96, for a total value of $1,422,374.08. Following the completion of the sale, the chief executive officer now owns 349,712 shares of the company’s stock, valued at approximately $62,584,459.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $178.96, for a total value of $1,422,374.08. Following the transaction, the chief executive officer now directly owns 349,712 shares in the company, valued at $62,584,459.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the sale, the chief technology officer now directly owns 128,957 shares in the company, valued at approximately $18,838,038.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 230,185 shares of company stock valued at $38,597,791 in the last three months. 40.48% of the stock is currently owned by insiders.

Atlassian Stock Performance

TEAM opened at $188.73 on Friday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The firm has a market capitalization of $49.13 billion, a PE ratio of -299.57 and a beta of 0.73. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The firm’s 50-day moving average price is $169.41 and its 200 day moving average price is $171.50.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm posted ($0.21) EPS. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, sell-side analysts expect that Atlassian Co. will post -0.58 EPS for the current fiscal year.

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.