Napa Wealth Management Invests $1.40 Million in Atlassian Co. (NASDAQ:TEAM)

Napa Wealth Management acquired a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,747 shares of the technology company's stock, valued at approximately $1,399,000.

Other large investors also recently modified their holdings of the company. Allworth Financial LP boosted its stake in shares of Atlassian by 3.1% during 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. Pallas Capital Advisors LLC boosted its stake in shares of Atlassian by 185.9% during the 4th quarter. Pallas Capital Advisors LLC now owns 4,245 shares of the technology company's stock worth $1,033,000 after buying an additional 2,760 shares during the last quarter. Slow Capital Inc. boosted its stake in shares of Atlassian by 2.9% during the 4th quarter. Slow Capital Inc. now owns 33,879 shares of the technology company's stock worth $8,245,000 after buying an additional 959 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Atlassian by 3,951.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 149,690 shares of the technology company's stock worth $36,432,000 after buying an additional 145,995 shares during the last quarter. Finally, SYM FINANCIAL Corp bought a new stake in shares of Atlassian in the 4th quarter valued at about $230,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Gene Liu sold 568 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $312.08, for a total value of $177,261.44. Following the sale, the chief accounting officer now owns 52,142 shares of the company's stock, valued at $16,272,475.36. The trade was a 1.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.58, for a total transaction of $475,121.60. Following the completion of the sale, the president now directly owns 201,657 shares in the company, valued at approximately $63,033,945.06. This represents a 0.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 252,786 shares of company stock valued at $59,536,362 over the last 90 days. 38.55% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TEAM. BMO Capital Markets dropped their target price on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Scotiabank upped their target price on shares of Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a report on Friday, January 31st. Baird R W raised shares of Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Raymond James reissued an "outperform" rating and issued a $300.00 price target (down from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Finally, Macquarie lowered their price target on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Atlassian has a consensus rating of "Moderate Buy" and a consensus price target of $285.29.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $223.75 on Tuesday. The firm has a market cap of $58.62 billion, a PE ratio of -166.98 and a beta of 1.06. The firm's fifty day moving average is $214.30 and its 200-day moving average is $246.65. 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 Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $1.35 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Atlassian's revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

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.

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