1,835 Shares in Atlassian Co. (NASDAQ:TEAM) Bought by Fulton Bank N.A.

Fulton Bank N.A. bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,835 shares of the technology company’s stock, valued at approximately $447,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TEAM. Virtu Financial LLC purchased a new position in Atlassian in the third quarter valued at about $606,000. Sequoia Financial Advisors LLC raised its position in shares of Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Atlassian during the 3rd quarter valued at approximately $1,588,000. Impax Asset Management Group plc increased its stake in shares of Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after buying an additional 31,986 shares during the last quarter. Finally, Parnassus Investments LLC raised its holdings in Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after acquiring an additional 245,286 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Trading Down 1.4 %

NASDAQ:TEAM opened at $244.49 on Friday. The stock has a market cap of $63.67 billion, a price-to-earnings ratio of -160.85 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $287.97. The business has a fifty day moving average of $252.85 and a 200-day moving average of $198.51.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) EPS. Equities analysts predict that Atlassian Co. will post -0.54 earnings per share for the current year.

Insider Activity

In related news, CAO Gene Liu sold 1,024 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 59,168 shares of the company’s stock, valued at $13,339,425.60. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $188.79, for a total transaction of $143,480.40. Following the completion of the sale, the president now owns 228,996 shares in the company, valued at approximately $43,232,154.84. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,480 shares of company stock worth $62,377,979 over the last three months. Corporate insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

TEAM has been the subject of several research analyst reports. Morgan Stanley boosted their target price on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Mizuho upped their price objective on Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Wells Fargo & Company increased their target price on Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. KeyCorp boosted their price target on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Truist Financial raised Atlassian from a “hold” rating to a “buy” rating and upped their price target for the company from $250.00 to $300.00 in a research report on Tuesday. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $264.25.

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.