Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers grew its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 11.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,639 shares of the technology company's stock after purchasing an additional 2,091 shares during the period. Cetera Investment Advisers' holdings in Atlassian were worth $5,023,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allworth Financial LP grew its holdings in Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after purchasing an additional 47 shares during the period. Pallas Capital Advisors LLC grew its holdings in Atlassian by 185.9% in the fourth quarter. Pallas Capital Advisors LLC now owns 4,245 shares of the technology company's stock valued at $1,033,000 after purchasing an additional 2,760 shares during the period. Slow Capital Inc. grew its holdings in Atlassian by 2.9% in the fourth quarter. Slow Capital Inc. now owns 33,879 shares of the technology company's stock valued at $8,245,000 after purchasing an additional 959 shares during the period. Nisa Investment Advisors LLC grew its holdings in Atlassian by 3,951.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 149,690 shares of the technology company's stock valued at $36,432,000 after purchasing an additional 145,995 shares during the period. Finally, SYM FINANCIAL Corp acquired a new stake in Atlassian in the fourth quarter valued at approximately $230,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $313.95, for a total value of $2,495,274.60. Following the completion of the sale, the chief executive officer now directly owns 230,492 shares of the company's stock, valued at approximately $72,362,963.40. The trade was a 3.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 541 shares of Atlassian stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total value of $122,000.91. Following the completion of the sale, the chief accounting officer now directly owns 51,481 shares of the company's stock, valued at $11,609,480.31. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 267,301 shares of company stock valued at $60,975,089. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Trading Down 0.0%

NASDAQ:TEAM traded down $0.09 on Friday, reaching $220.79. The company's stock had a trading volume of 1,730,232 shares, compared to its average volume of 2,096,411. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market cap of $57.85 billion, a price-to-earnings ratio of -164.77 and a beta of 1.06. The stock has a 50 day moving average price of $213.69 and a 200 day moving average price of $246.60.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the business earned $0.89 earnings per share. The company's revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Jefferies Financial Group dropped their price objective on Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a report on Monday, April 7th. The Goldman Sachs Group raised their price objective on Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a report on Monday, February 3rd. StockNews.com lowered Atlassian from a "buy" rating to a "hold" rating in a report on Monday, March 31st. Scotiabank raised their target price on Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a research report on Friday, January 31st. Finally, KeyCorp decreased their target price on Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $285.29.

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.