Venturi Wealth Management LLC Buys 221 Shares of Atlassian Co. (NASDAQ:TEAM)

Venturi Wealth Management LLC boosted its position in Atlassian Co. (NASDAQ:TEAM) by 18.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,411 shares of the technology company’s stock after purchasing an additional 221 shares during the period. Venturi Wealth Management LLC’s holdings in Atlassian were worth $224,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TEAM. Financial Advocates Investment Management grew its stake in Atlassian by 1.7% in the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after buying an additional 62 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Atlassian by 1.4% in the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after acquiring an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC increased its stake in Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after acquiring an additional 70 shares during the last quarter. SkyView Investment Advisors LLC raised its position in Atlassian by 2.1% during the first quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock valued at $775,000 after purchasing an additional 80 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TEAM shares. Canaccord Genuity Group raised their price objective on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a report on Friday, November 1st. Morgan Stanley lifted their price target on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Piper Sandler upped their price objective on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Oppenheimer lifted their target price on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, UBS Group upped their price target on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.16.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the sale, the president now directly owns 143,966 shares of the company’s stock, valued at $23,482,294.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the transaction, the president now directly owns 143,966 shares in the company, valued at approximately $23,482,294.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $244.84, for a total value of $1,945,988.32. Following the transaction, the director now directly owns 270,232 shares of the company’s stock, valued at approximately $66,163,602.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,395 shares of company stock worth $46,787,439. 38.55% of the stock is owned by corporate insiders.

Atlassian Trading Up 3.1 %

Shares of TEAM opened at $252.78 on Thursday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The firm has a market capitalization of $65.83 billion, a price-to-earnings ratio of -166.30 and a beta of 0.71. The firm’s 50-day moving average price is $184.61 and its 200-day moving average price is $173.61. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the business earned ($0.07) EPS. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. Sell-side analysts anticipate that Atlassian Co. will post -0.56 EPS for the current year.

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.