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

Napa Wealth Management purchased a new position in Atlassian Co. (NASDAQ:TEAM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,747 shares of the technology company's stock, valued at approximately $1,399,000.

Several other hedge funds have also added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian during the fourth quarter valued at about $27,000. Colonial Trust Co SC raised its stake in Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after buying an additional 69 shares in the last quarter. Summit Securities Group LLC bought a new position in Atlassian in the fourth quarter worth about $38,000. Pilgrim Partners Asia Pte Ltd bought a new position in Atlassian in the fourth quarter worth about $39,000. Finally, Avion Wealth raised its stake in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after buying an additional 157 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Atlassian news, CAO Gene Liu sold 541 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $122,000.91. Following the completion of the sale, the chief accounting officer now owns 51,481 shares of the company's stock, valued at approximately $11,609,480.31. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $313.95, for a total value of $2,495,274.60. Following the sale, the chief executive officer now directly owns 230,492 shares of the company's stock, valued at $72,362,963.40. This represents a 3.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 267,301 shares of company stock valued at $60,975,089 over the last 90 days. Company insiders own 38.55% of the company's stock.

Atlassian Stock Performance

Shares of NASDAQ TEAM traded down $0.09 during midday trading on Friday, hitting $220.79. 1,730,232 shares of the stock traded hands, compared to its average volume of 2,099,994. The firm has a market capitalization of $57.96 billion, a P/E ratio of -164.77 and a beta of 1.06. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. 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 50-day moving average of $213.63 and a two-hundred day moving average of $247.20.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping 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 company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. Atlassian's revenue was up 14.1% compared to the same quarter last year. On average, equities analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TEAM shares. Raymond James reissued an "outperform" rating and issued a $300.00 price target (down from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. JMP Securities reissued a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. 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. Barclays decreased their target price on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, Jefferies Financial Group decreased their target price on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $285.29.

Atlassian Company 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.