Toth Financial Advisory Corp Acquires 2,835 Shares of Atlassian Co. (NASDAQ:TEAM)

Toth Financial Advisory Corp raised its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 708.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,235 shares of the technology company's stock after purchasing an additional 2,835 shares during the period. Toth Financial Advisory Corp's holdings in Atlassian were worth $686,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TEAM. Clean Yield Group increased its holdings in shares of Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after purchasing an additional 93 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlassian in the fourth quarter valued at about $27,000. Colonial Trust Co SC boosted its position in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after acquiring an additional 69 shares during the period. Summit Securities Group LLC bought a new stake in Atlassian during the fourth quarter worth about $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Atlassian during the fourth quarter worth about $39,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. UBS Group lowered their target price on Atlassian from $230.00 to $215.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. KeyCorp decreased their target price on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Mizuho decreased their target price on shares of Atlassian from $325.00 to $290.00 and set an "outperform" rating for the company in a research report on Thursday. Canaccord Genuity Group decreased their target price on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Stephens decreased their target price on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $282.19.

Atlassian Stock Down 1.3%

Shares of TEAM traded down $2.50 during trading hours on Friday, reaching $196.82. 1,899,963 shares of the stock traded hands, compared to its average volume of 2,120,412. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a fifty day simple moving average of $210.45 and a 200 day simple moving average of $243.37. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a market cap of $51.67 billion, a price-to-earnings ratio of -146.88 and a beta of 0.96.

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

Insider Buying and Selling

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $226.93, for a total value of $1,803,639.64. Following the completion of the transaction, the chief executive officer now owns 55,636 shares in the company, valued at $12,625,477.48. This trade represents a 12.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $199.55, for a total transaction of $1,529,550.75. Following the transaction, the director now directly owns 84,315 shares of the company's stock, valued at approximately $16,825,058.25. This represents a 8.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 351,759 shares of company stock worth $74,833,479. Insiders own 38.55% of the company's stock.

Atlassian 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.