Essential Planning LLC. Buys Shares of 29,250 Atlassian Co. (NASDAQ:TEAM)

Essential Planning LLC. bought a new stake in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 29,250 shares of the technology company’s stock, valued at approximately $6,666,000.

Other institutional investors also recently made changes to their positions in the company. Great Lakes Advisors LLC acquired a new stake in shares of Atlassian during the 4th quarter valued at approximately $1,944,000. EverSource Wealth Advisors LLC increased its position in Atlassian by 40.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 789 shares of the technology company’s stock worth $192,000 after buying an additional 229 shares during the period. Sequoia Financial Advisors LLC increased its position in Atlassian by 9.0% in the fourth quarter. Sequoia Financial Advisors LLC now owns 2,099 shares of the technology company’s stock worth $511,000 after buying an additional 174 shares during the period. Independent Advisor Alliance increased its position in Atlassian by 45.8% in the fourth quarter. Independent Advisor Alliance now owns 4,360 shares of the technology company’s stock worth $1,061,000 after buying an additional 1,370 shares during the period. Finally, Johnson Investment Counsel Inc. acquired a new stake in Atlassian in the fourth quarter worth $223,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TEAM has been the topic of several analyst reports. Barclays increased their target price on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their target price on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group increased their price target on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. William Blair reissued an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Finally, Mizuho raised their price target on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian Trading Up 3.8 %

Shares of NASDAQ TEAM opened at $224.10 on Wednesday. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The firm has a market capitalization of $58.71 billion, a PE ratio of -167.24 and a beta of 0.91. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average price of $275.10 and a two-hundred day moving average price of $233.57.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In other news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the completion of the sale, the president now directly owns 211,991 shares in the company, valued at $54,006,827.16. The trade was a 0.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Gene Liu sold 779 shares of Atlassian stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the sale, the chief accounting officer now owns 52,710 shares of the company’s stock, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 272,501 shares of company stock worth $74,569,690 in the last three months. 38.55% of the stock is owned by insiders.

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.