J.W. Cole Advisors Inc. Buys 2,312 Shares of Atlassian Co. (NASDAQ:TEAM)

J.W. Cole Advisors Inc. raised its stake in Atlassian Co. (NASDAQ:TEAM) by 145.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,899 shares of the technology company’s stock after acquiring an additional 2,312 shares during the period. J.W. Cole Advisors Inc.’s holdings in Atlassian were worth $619,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. First Trust Direct Indexing L.P. grew its holdings in shares of Atlassian by 1.5% during the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock worth $721,000 after purchasing an additional 55 shares during the last quarter. Financial Advocates Investment Management grew its holdings in shares of Atlassian by 1.7% during the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after purchasing an additional 62 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Atlassian by 1.4% during the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after purchasing an additional 65 shares during the last quarter. Legacy Wealth Asset Management LLC grew its holdings in shares of Atlassian by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after purchasing an additional 70 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Atlassian by 0.4% during the first quarter. Daiwa Securities Group Inc. now owns 19,544 shares of the technology company’s stock worth $3,813,000 after purchasing an additional 72 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors.

Atlassian Trading Down 0.7 %

NASDAQ:TEAM opened at $190.44 on Thursday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The business’s 50-day moving average price is $170.72 and its two-hundred day moving average price is $170.98. 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 has a market capitalization of $49.57 billion, a price-to-earnings ratio of -302.29 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) 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 company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the company earned ($0.21) earnings per share. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. On average, equities analysts expect that Atlassian Co. will post -0.58 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on TEAM shares. Oppenheimer restated an “outperform” rating and set a $230.00 target price on shares of Atlassian in a report on Monday, September 23rd. The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and upped their price target for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Raymond James raised Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research note on Tuesday, October 1st. Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets cut their price target on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and a consensus price target of $212.47.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the sale, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the sale, the president now directly owns 143,966 shares in the company, valued at $23,482,294.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Heather Mirjahangir Fernandez sold 750 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $185.50, for a total value of $139,125.00. Following the completion of the sale, the director now owns 10,110 shares of the company’s stock, valued at $1,875,405. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 230,185 shares of company stock worth $38,775,509 over the last ninety days. 40.48% of the stock is currently owned by corporate insiders.

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.