Laird Norton Wetherby Wealth Management LLC Invests $296,000 in Atlassian Co. (NASDAQ:TEAM)

Laird Norton Wetherby Wealth Management LLC acquired a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,215 shares of the technology company's stock, valued at approximately $296,000.

Other institutional investors have also modified their holdings of the company. Corebridge Financial Inc. lifted its holdings in shares of Atlassian by 0.3% in the fourth 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 in the last quarter. GeoWealth Management LLC grew its holdings 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 purchasing an additional 38 shares in the last quarter. Assetmark Inc. grew its holdings in Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after acquiring an additional 41 shares in the last quarter. Allworth Financial LP lifted its position in shares of Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after buying an additional 47 shares during the last quarter. Finally, Covenant Partners LLC lifted its position in shares of Atlassian by 4.2% in the 4th quarter. Covenant Partners LLC now owns 1,328 shares of the technology company's stock worth $323,000 after buying an additional 53 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Atlassian

In other Atlassian news, CAO Gene Liu sold 541 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 transaction of $122,000.91. Following the sale, the chief accounting officer now directly owns 51,481 shares in the company, valued at approximately $11,609,480.31. This trade represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 1,723 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total value of $526,962.32. Following the completion of the transaction, the president now owns 199,934 shares in the company, valued at approximately $61,147,814.56. This trade represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 283,197 shares of company stock worth $63,707,532 over the last ninety days. 38.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TEAM has been the topic of several research analyst reports. Oppenheimer raised their target price on shares of Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. KeyCorp reduced their target price on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. BMO Capital Markets lowered their price objective on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Raymond James restated an "outperform" rating and set a $300.00 price objective (down from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. Finally, Macquarie dropped their price objective on Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $285.29.

Atlassian Trading Up 0.0%

Shares of TEAM traded up $0.02 during mid-day trading on Tuesday, reaching $214.49. 1,779,847 shares of the company were exchanged, compared to its average volume of 2,101,279. The business has a 50 day simple moving average of $213.39 and a two-hundred day simple moving average of $247.54. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The stock has a market capitalization of $56.30 billion, a PE ratio of -160.07 and a beta of 1.06. 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 posted its 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 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 analyst estimates of $1.35 billion. During the same quarter last year, the company 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, analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal 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.