Menard Financial Group LLC Buys New Stake in Atlassian Co. (NASDAQ:TEAM)

Menard Financial Group LLC bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,327 shares of the technology company's stock, valued at approximately $810,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new stake in Atlassian during the 4th quarter valued at about $27,000. Colonial Trust Co SC increased its stake in Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after acquiring an additional 69 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Atlassian during the fourth quarter worth $38,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Atlassian in the fourth quarter valued at $39,000. Finally, Avion Wealth lifted its holdings in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after buying an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Raymond James reissued an "outperform" rating and set a $300.00 price target (down previously from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. Wall Street Zen downgraded Atlassian from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Wells Fargo & Company cut their price target on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Macquarie dropped their price objective on Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Truist Financial decreased their price objective on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $285.29.

Insider Buying and Selling

In other news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $278.61, for a total value of $2,214,392.28. Following the completion of the sale, the director now directly owns 166,908 shares of the company's stock, valued at approximately $46,502,237.88. This represents a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 7,674 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $1,730,563.74. Following the transaction, the president now owns 192,260 shares of the company's stock, valued at $43,356,552.60. This represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 302,951 shares of company stock valued at $65,803,565. 38.55% of the stock is owned by corporate insiders.

Atlassian Trading Down 4.3%

TEAM traded down $9.10 on Thursday, reaching $203.93. 2,862,915 shares of the company's stock were exchanged, compared to its average volume of 2,097,881. The company's 50 day moving average is $211.78 and its 200-day moving average is $246.41. The company 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 twelve month low of $135.29 and a twelve month high of $326.00. 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 quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.36 billion for 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 firm's revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the business posted $0.89 earnings per share. Equities analysts predict that Atlassian Co. will post -0.34 earnings per share for the current 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.