Wealth Enhancement Advisory Services LLC Boosts Holdings in Atlassian Co. (NASDAQ:TEAM)

Wealth Enhancement Advisory Services LLC grew its stake in Atlassian Co. (NASDAQ:TEAM) by 96.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,730 shares of the technology company’s stock after purchasing an additional 3,797 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Atlassian were worth $1,228,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Atlassian by 123.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 61,856 shares of the technology company’s stock valued at $12,069,000 after acquiring an additional 34,204 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Atlassian by 12.9% in the first quarter. Sequoia Financial Advisors LLC now owns 1,540 shares of the technology company’s stock valued at $300,000 after purchasing an additional 176 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Atlassian by 6.5% in the first quarter. Janney Montgomery Scott LLC now owns 26,168 shares of the technology company’s stock valued at $5,106,000 after purchasing an additional 1,593 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Atlassian by 0.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 19,544 shares of the technology company’s stock worth $3,813,000 after buying an additional 72 shares in the last quarter. Finally, Financial Counselors Inc. boosted its holdings in Atlassian by 10.5% in the first quarter. Financial Counselors Inc. now owns 13,283 shares of the technology company’s stock valued at $2,592,000 after purchasing an additional 1,263 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Down 2.4 %

Atlassian stock opened at $218.96 on Tuesday. The firm has a market cap of $56.94 billion, a price-to-earnings ratio of -144.05 and a beta of 0.71. The firm has a fifty day moving average price of $174.38 and a two-hundred day moving average price of $171.31. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.38% and a negative net margin of 8.59%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company earned ($0.07) earnings per share. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current year.

Insider Activity at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the sale, the chief executive officer now directly owns 294,076 shares of the company’s stock, valued at approximately $41,329,441.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Gene Liu sold 1,024 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $230,860.80. Following the completion of the sale, the chief accounting officer now owns 59,168 shares in the company, valued at $13,339,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total value of $1,117,011.92. Following the completion of the transaction, the chief executive officer now owns 294,076 shares in the company, valued at approximately $41,329,441.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 237,269 shares of company stock worth $41,382,072. 38.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TEAM shares. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price objective on the stock in a report on Thursday, July 11th. Jefferies Financial Group lifted their price target on Atlassian from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler increased their price objective on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a report on Friday. StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Finally, Barclays dropped their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.16.

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.