Laird Norton Wetherby Wealth Management LLC Takes Position in Atlassian Co. (NASDAQ:TEAM)

Laird Norton Wetherby Wealth Management LLC acquired 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 Securities and Exchange Commission (SEC). The institutional investor acquired 1,215 shares of the technology company's stock, valued at approximately $296,000.

A number of other institutional investors also recently modified their holdings of TEAM. JPMorgan Chase & Co. raised its position in shares of Atlassian by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock worth $393,588,000 after purchasing an additional 131,621 shares during the period. Wedmont Private Capital purchased a new stake in Atlassian in the 4th quarter valued at $221,000. Park Avenue Securities LLC raised its position in Atlassian by 16.7% in the 4th quarter. Park Avenue Securities LLC now owns 4,757 shares of the technology company's stock valued at $1,158,000 after buying an additional 682 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Atlassian by 23.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 2,316 shares of the technology company's stock valued at $564,000 after buying an additional 447 shares during the last quarter. Finally, Decker Retirement Planning Inc. purchased a new stake in Atlassian in the 4th quarter valued at $4,374,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. The Goldman Sachs Group increased their price target on Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Scotiabank upped their price objective on Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a research note on Friday, January 31st. Cantor Fitzgerald upgraded Atlassian from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Jefferies Financial Group reduced their price objective on Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Mizuho upped their price objective on Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and a consensus price target of $285.29.

Atlassian Price Performance

NASDAQ TEAM traded down $0.03 during trading hours on Thursday, hitting $209.15. The company had a trading volume of 651,411 shares, compared to its average volume of 2,102,057. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The firm has a 50 day simple moving average of $213.33 and a 200 day simple moving average of $247.04. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $54.90 billion, a price-to-earnings ratio of -156.12 and a beta of 1.06.

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 the consensus estimate 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 firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter last year, the firm posted $0.89 EPS. The company's revenue was up 14.1% compared to the same quarter last year. Equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CAO Gene Liu sold 121 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $214.88, for a total value of $26,000.48. Following the sale, the chief accounting officer now owns 51,360 shares of the company's stock, valued at $11,036,236.80. This trade represents a 0.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $289.77, for a total value of $2,303,091.96. Following the transaction, the director now directly owns 182,804 shares in the company, valued at approximately $52,971,115.08. This represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 287,055 shares of company stock valued at $63,723,335 in the last 90 days. Corporate insiders own 38.55% of the company's stock.

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.