Jefferies Financial Group Inc. Takes $1.70 Million Position in Atlassian Co. (NASDAQ:TEAM)

Jefferies Financial Group Inc. purchased a new stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,995 shares of the technology company's stock, valued at approximately $1,702,000.

A number of other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock valued at $393,588,000 after buying an additional 131,621 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in Atlassian during the 4th quarter worth approximately $262,000. Avior Wealth Management LLC lifted its stake in Atlassian by 66.8% during the 4th quarter. Avior Wealth Management LLC now owns 507 shares of the technology company's stock valued at $123,000 after acquiring an additional 203 shares during the period. First Citizens Bank & Trust Co. purchased a new stake in shares of Atlassian in the 4th quarter valued at $277,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Atlassian in the 4th quarter valued at $299,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 7,674 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total transaction of $1,730,563.74. Following the completion of the sale, the president now owns 192,260 shares of the company's stock, valued at approximately $43,356,552.60. This represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $185.61, for a total transaction of $1,475,228.28. Following the completion of the sale, the director now owns 333,816 shares of the company's stock, valued at approximately $61,959,587.76. The trade was a 2.33% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 302,951 shares of company stock valued at $65,803,565. 38.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of research reports. Wall Street Zen downgraded shares of Atlassian from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Robert W. Baird upgraded Atlassian from a "neutral" rating to an "outperform" rating and reduced their price objective for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Canaccord Genuity Group lowered their target price on Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and set a $300.00 target price (down from $365.00) on shares of Atlassian in a report on Friday, May 2nd. Finally, Barclays decreased their price target on Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $285.29.

Atlassian Price Performance

Shares of TEAM traded down $9.10 during mid-day trading on Thursday, hitting $203.93. 2,862,915 shares of the company were exchanged, compared to its average volume of 2,097,881. The stock has a market cap of $53.53 billion, a price-to-earnings ratio of -152.19 and a beta of 1.06. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a 50 day moving average of $211.78 and a 200-day moving average of $246.41. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced 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. The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The business's revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal 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.