Atlassian Co. (NASDAQ:TEAM) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 62.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,567 shares of the technology company's stock after acquiring an additional 4,837 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Atlassian were worth $3,059,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TEAM. Corebridge Financial Inc. lifted its holdings in shares of Atlassian by 0.3% during the 4th quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after purchasing an additional 35 shares during the last quarter. GeoWealth Management LLC increased its position in Atlassian by 26.8% during the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after buying an additional 38 shares in the last quarter. Assetmark Inc. raised its stake in Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after buying an additional 41 shares during the last quarter. Allworth Financial LP boosted 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 worth $404,000 after acquiring an additional 47 shares in the last quarter. Finally, True Wealth Design LLC boosted its holdings in Atlassian by 21.6% in the fourth quarter. True Wealth Design LLC now owns 282 shares of the technology company's stock worth $69,000 after acquiring an additional 50 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

Shares of NASDAQ:TEAM traded down $4.09 during trading on Friday, reaching $214.51. 1,579,559 shares of the company's stock traded hands, compared to its average volume of 2,097,879. The firm has a market cap of $56.31 billion, a PE ratio of -160.08 and a beta of 1.06. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a 50-day simple moving average of $209.84 and a 200-day simple moving average of $244.92. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 7.22% and a negative return on equity of 17.37%. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 EPS. As a group, analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. KeyCorp cut their price objective on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. UBS Group dropped their target price on shares of Atlassian from $230.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Robert W. Baird upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and lowered their price objective for the stock from $320.00 to $255.00 in a research note on Monday, April 14th. Finally, Stephens cut their target price on Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Four equities 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. Based on data from MarketBeat.com, Atlassian has an average rating of "Moderate Buy" and a consensus target price of $285.29.

Insider Activity

In other Atlassian news, President Anutthara Bharadwaj sold 7,674 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $1,730,563.74. Following the transaction, the president now owns 192,260 shares of the company's stock, valued at approximately $43,356,552.60. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $218.05, for a total value of $1,733,061.40. Following the completion of the sale, the director now owns 119,220 shares of the company's stock, valued at approximately $25,995,921. The trade was a 6.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 336,995 shares of company stock worth $72,016,530 over the last 90 days. 38.55% of the stock is currently owned by company insiders.

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.