Park National Corp OH Invests $206,000 in Atlassian Co. (NASDAQ:TEAM)

Park National Corp OH bought a new stake in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 845 shares of the technology company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also bought and sold shares of TEAM. Virtu Financial LLC acquired a new position in shares of Atlassian during the 3rd quarter worth about $606,000. Sequoia Financial Advisors LLC grew its holdings in Atlassian by 37.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after purchasing an additional 520 shares during the period. Paloma Partners Management Co acquired a new position in Atlassian during the third quarter worth approximately $1,588,000. Impax Asset Management Group plc raised its stake in Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after buying an additional 31,986 shares during the period. Finally, Parnassus Investments LLC lifted its position in shares of 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 buying an additional 245,286 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of recent analyst reports. Canaccord Genuity Group boosted their target price on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Jefferies Financial Group increased their price objective on shares of Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Raymond James lifted their target price on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Oppenheimer increased their price target on shares of Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday. Finally, Wells Fargo & Company boosted their price objective on Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $264.25.

Atlassian Stock Down 1.4 %

Shares of TEAM opened at $244.49 on Friday. The firm has a 50 day simple moving average of $252.85 and a two-hundred day simple moving average of $198.51. The company has a market cap of $63.67 billion, a P/E ratio of -160.85 and a beta of 0.83. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the company earned ($0.07) EPS. Atlassian’s revenue for the quarter was up 21.5% on a year-over-year basis. Research analysts forecast that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Insider Activity

In related news, President Anutthara Bharadwaj sold 4,560 shares of the firm’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 $1,028,052.00. Following the sale, the president now owns 224,436 shares of the company’s stock, valued at $50,599,096.20. This trade represents a 1.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $189.96, for a total value of $1,509,802.08. Following the completion of the transaction, the director now directly owns 413,296 shares of the company’s stock, valued at approximately $78,509,708.16. The trade was a 1.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 263,480 shares of company stock worth $62,377,979. Corporate insiders own 38.55% of the company’s stock.

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.