Onyx Bridge Wealth Group LLC Invests $303,000 in Atlassian Co. (NASDAQ:TEAM)

Onyx Bridge Wealth Group LLC bought a new position in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 1,274 shares of the technology company’s stock, valued at approximately $303,000.

A number of other large investors have also recently made changes to their positions in TEAM. Dimensional Fund Advisors LP boosted its stake in shares of Atlassian by 29.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 201,552 shares of the technology company’s stock worth $59,233,000 after purchasing an additional 46,418 shares during the period. Cetera Investment Advisers boosted its stake in shares of Atlassian by 6.0% during the 1st quarter. Cetera Investment Advisers now owns 1,755 shares of the technology company’s stock worth $516,000 after purchasing an additional 100 shares during the period. Baird Financial Group Inc. boosted its position in Atlassian by 7.9% in the 1st quarter. Baird Financial Group Inc. now owns 115,967 shares of the technology company’s stock valued at $34,075,000 after buying an additional 8,491 shares during the period. Pearl River Capital LLC purchased a new stake in Atlassian in the 1st quarter valued at about $1,163,000. Finally, USS Investment Management Ltd purchased a new stake in Atlassian in the 1st quarter valued at about $6,015,000. 93.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $245.64, for a total value of $2,024,319.24. Following the sale, the chief executive officer now directly owns 370,845 shares of the company’s stock, valued at approximately $91,094,365.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $245.64, for a total value of $2,024,319.24. Following the sale, the chief executive officer now directly owns 370,845 shares of the company’s stock, valued at approximately $91,094,365.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 227 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $48,321.49. Following the completion of the sale, the chief accounting officer now directly owns 47,066 shares in the company, valued at $10,018,939.42. The disclosure for this sale can be found here. Insiders have sold 298,930 shares of company stock valued at $62,707,908 in the last ninety days. Insiders own 40.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TEAM. KeyCorp began coverage on shares of Atlassian in a research report on Tuesday, March 19th. They issued a “sector weight” rating for the company. William Blair reissued an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Citigroup reduced their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a report on Friday, April 12th. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Finally, Mizuho reduced their price target on shares of Atlassian from $265.00 to $240.00 and set a “buy” rating for the company in a report on Monday, April 15th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Hold” and a consensus price target of $224.25.

Atlassian Stock Performance

Atlassian stock traded down $2.06 during mid-day trading on Friday, reaching $191.55. 1,769,243 shares of the company traded hands, compared to its average volume of 1,464,101. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The company has a market capitalization of $49.69 billion, a price-to-earnings ratio of -128.56 and a beta of 0.63. The firm’s fifty day moving average is $201.83 and its two-hundred day moving average is $206.53.

Atlassian (NASDAQ:TEAM) last issued its quarterly 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). Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. On average, equities research analysts expect that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

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.