Eagle Wealth Strategies LLC Makes New Investment in Atlassian Co. (NASDAQ:TEAM)

Eagle Wealth Strategies LLC acquired a new position in shares of Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,061 shares of the technology company’s stock, valued at approximately $490,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Atlassian by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 14,851,471 shares of the technology company’s stock worth $2,992,720,000 after acquiring an additional 112,482 shares during the period. WCM Investment Management LLC boosted its position in Atlassian by 2.7% during the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock worth $2,325,490,000 after acquiring an additional 249,017 shares during the period. Baillie Gifford & Co. boosted its position in Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after acquiring an additional 1,511,318 shares during the period. Artisan Partners Limited Partnership boosted its position in Atlassian by 1.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock worth $1,218,765,000 after acquiring an additional 63,903 shares during the period. Finally, Morgan Stanley raised its stake in shares of Atlassian by 156.8% during the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after purchasing an additional 1,095,297 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Atlassian

In other news, CAO Gene Liu sold 227 shares of Atlassian stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $48,321.49. Following the sale, the chief accounting officer now owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Gene Liu sold 227 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the sale, the chief accounting officer now owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Joseph Leo Binz sold 601 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $127,934.87. Following the completion of the sale, the chief financial officer now owns 101,447 shares in the company, valued at $21,595,022.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 292,209 shares of company stock valued at $59,632,213. 40.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TEAM. UBS Group cut their price target on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Mizuho cut their price target on Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday. Wells Fargo & Company raised their price target on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Oppenheimer cut their price target on Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Piper Sandler cut their price target on Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Atlassian currently has an average rating of “Hold” and an average target price of $223.22.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $180.99 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $199.98 and its two-hundred day moving average is $206.59. The company has a market cap of $46.95 billion, a P/E ratio of -284.84 and a beta of 0.63. Atlassian Co. has a 12 month low of $128.02 and a 12 month high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. On average, equities analysts expect that Atlassian Co. will post -0.42 EPS 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.