Wealth Enhancement Advisory Services LLC Has $1.94 Million Position in Atlassian Co. (NASDAQ:TEAM)

Wealth Enhancement Advisory Services LLC increased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 3.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,960 shares of the technology company’s stock after purchasing an additional 230 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Atlassian were worth $1,937,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares in the last quarter. GAMMA Investing LLC boosted 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 buying an additional 96 shares in the last quarter. Reston Wealth Management LLC bought a new stake in Atlassian in the 3rd quarter valued at $48,000. Quarry LP raised its stake in shares of Atlassian by 143.8% in the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after buying an additional 220 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after acquiring an additional 82 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $188.79, for a total transaction of $143,480.40. Following the sale, the president now directly owns 228,996 shares in the company, valued at approximately $43,232,154.84. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Gene Liu sold 1,024 shares of the company’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 transaction, the chief accounting officer now directly owns 59,168 shares of the company’s stock, valued at approximately $13,339,425.60. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 271,428 shares of company stock valued at $65,082,922 in the last 90 days. 38.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TEAM shares. Scotiabank upped their target price on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. UBS Group raised their target price on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and upped their price target for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Morgan Stanley lifted their price objective on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, KeyCorp upped their target price on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $266.10.

Atlassian Trading Up 4.3 %

Shares of NASDAQ TEAM opened at $246.40 on Wednesday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97. The firm has a market capitalization of $64.17 billion, a P/E ratio of -162.10 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The company’s 50 day simple moving average is $255.17 and its 200 day simple moving average is $200.72.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating 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 company 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 posted ($0.07) EPS. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. On average, analysts predict that Atlassian Co. will post -0.54 EPS for the current year.

Atlassian Company 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.