Atlassian Co. (NASDAQ:TEAM) Shares Acquired by MJP Associates Inc. ADV

MJP Associates Inc. ADV boosted its stake in Atlassian Co. (NASDAQ:TEAM) by 15.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,289 shares of the technology company’s stock after acquiring an additional 172 shares during the quarter. MJP Associates Inc. ADV’s holdings in Atlassian were worth $307,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. raised its holdings in Atlassian by 11.4% in the 4th quarter. Pacer Advisors Inc. now owns 10,078 shares of the technology company’s stock valued at $2,397,000 after acquiring an additional 1,030 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Atlassian by 0.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 18,278 shares of the technology company’s stock valued at $4,348,000 after buying an additional 62 shares in the last quarter. HB Wealth Management LLC acquired a new stake in shares of Atlassian in the 4th quarter worth $230,000. IFM Investors Pty Ltd raised its holdings in shares of Atlassian by 1.9% during the 4th quarter. IFM Investors Pty Ltd now owns 30,527 shares of the technology company’s stock worth $7,261,000 after acquiring an additional 560 shares during the period. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Atlassian during the 4th quarter valued at about $215,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Price Performance

Atlassian stock traded up $1.97 during midday trading on Thursday, reaching $195.11. The company’s stock had a trading volume of 1,120,009 shares, compared to its average volume of 1,742,633. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $50.61 billion, a PE ratio of -130.35 and a beta of 0.64. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The stock’s 50 day simple moving average is $214.94 and its 200 day simple moving average is $207.04.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. On average, equities research analysts forecast that Atlassian Co. will post -0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

TEAM has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Atlassian from $165.00 to $250.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Citigroup lifted their price objective on shares of Atlassian from $215.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Scotiabank started coverage on shares of Atlassian in a research note on Friday, December 1st. They set a “sector perform” rating and a $185.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Finally, KeyCorp assumed coverage on Atlassian in a research report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $225.19.

Insider Buying and Selling

In related news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $253.53, for a total value of $2,089,340.73. Following the transaction, the chief executive officer now owns 346,122 shares in the company, valued at $87,752,310.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Atlassian news, CAO Gene Liu sold 227 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the sale, the chief accounting officer now owns 47,066 shares of the company’s stock, valued at $10,018,939.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the transaction, the chief executive officer now directly owns 346,122 shares in the company, valued at $87,752,310.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,159 shares of company stock worth $64,129,051. 40.48% of the stock is owned by company insiders.

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.