Sequoia Financial Advisors LLC Buys 174 Shares of Atlassian Co. (NASDAQ:TEAM)

Sequoia Financial Advisors LLC raised its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,099 shares of the technology company’s stock after acquiring an additional 174 shares during the period. Sequoia Financial Advisors LLC’s holdings in Atlassian were worth $511,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TEAM. Virtu Financial LLC purchased a new position in shares of Atlassian in the 3rd quarter worth approximately $606,000. Fulton Bank N.A. bought a new position in Atlassian in the 4th quarter valued at $447,000. Paloma Partners Management Co purchased a new stake in shares of Atlassian during the 3rd quarter valued at $1,588,000. Allworth Financial LP raised 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 purchasing an additional 47 shares during the period. Finally, Parnassus Investments LLC boosted its holdings in shares of Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after buying an additional 245,286 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Up 1.2 %

TEAM stock opened at $220.98 on Tuesday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The stock has a market cap of $57.90 billion, a price-to-earnings ratio of -164.91 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 company’s 50 day moving average is $272.77 and its 200 day moving average is $235.08.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results 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%. Sell-side analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the sale, the president now directly owns 211,991 shares in the company, valued at approximately $54,006,827.16. The trade was a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $258.33, for a total transaction of $2,053,206.84. Following the transaction, the director now directly owns 63,584 shares in the company, valued at approximately $16,425,654.72. This represents a 11.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 264,553 shares of company stock worth $71,956,546 over the last 90 days. Corporate insiders own 38.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TEAM. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. The Goldman Sachs Group upped their price objective on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Jefferies Financial Group raised their target price on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Cantor Fitzgerald upped their price target on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, JMP Securities reiterated a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $319.71.

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.