Onyx Bridge Wealth Group LLC Acquires Shares of 1,274 Atlassian Co. (NASDAQ:TEAM)

Onyx Bridge Wealth Group LLC acquired a new stake in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,274 shares of the technology company’s stock, valued at approximately $303,000.

Other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new position in Atlassian in the 3rd quarter valued at $26,000. Tyler Stone Wealth Management purchased a new stake in shares of Atlassian during the 2nd quarter worth $34,000. Meeder Asset Management Inc. boosted its position in shares of Atlassian by 151.5% during the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock worth $31,000 after purchasing an additional 147 shares in the last quarter. Carmel Capital Partners LLC boosted its position in shares of Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after purchasing an additional 57 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Atlassian during the 2nd quarter worth $44,000. 93.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TEAM has been the topic of several research analyst reports. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. The Goldman Sachs Group boosted their price objective on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. UBS Group decreased their price objective on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Wells Fargo & Company boosted their price objective on shares of Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Finally, StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Atlassian presently has an average rating of “Hold” and a consensus price target of $224.25.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $196.26, for a total transaction of $1,617,378.66. Following the completion of the sale, the chief executive officer now owns 407,655 shares of the company’s stock, valued at approximately $80,006,370.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $196.26, for a total transaction of $1,617,378.66. Following the completion of the sale, the chief executive officer now owns 407,655 shares of the company’s stock, valued at approximately $80,006,370.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $201.05, for a total transaction of $305,596.00. Following the sale, the president now directly owns 163,370 shares of the company’s stock, valued at approximately $32,845,538.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 298,930 shares of company stock valued at $62,707,908. 40.48% of the stock is currently owned by corporate insiders.

Atlassian Trading Down 1.1 %

Shares of NASDAQ TEAM traded down $2.06 on Friday, reaching $191.55. 1,769,243 shares of the company traded hands, compared to its average volume of 1,464,101. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The company has a 50 day moving average of $201.83 and a 200 day moving average of $206.53. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $49.69 billion, a PE ratio of -128.56 and a beta of 0.63.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. On average, equities research analysts forecast that Atlassian Co. will post -0.4 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.