True Wealth Design LLC Grows Position in Atlassian Co. (NASDAQ:TEAM)

True Wealth Design LLC lifted its position in shares of Atlassian Co. (NASDAQ:TEAM) by 23,100.0% during the third quarter, Holdings Channel.com reports. The firm owned 232 shares of the technology company’s stock after acquiring an additional 231 shares during the period. True Wealth Design LLC’s holdings in Atlassian were worth $37,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TEAM. Sequoia Financial Advisors LLC grew its position in Atlassian by 37.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after buying an additional 520 shares during the period. Impax Asset Management Group plc grew its position in shares of Atlassian by 590.6% during the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after acquiring an additional 31,986 shares during the period. Parnassus Investments LLC increased its stake 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 valued at $51,016,000 after purchasing an additional 245,286 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Atlassian in the 3rd quarter worth about $97,350,000. Finally, Aigen Investment Management LP purchased a new position in Atlassian during the third quarter worth approximately $2,232,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of recent analyst reports. UBS Group boosted their price objective on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Raymond James boosted their price target on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Robert W. Baird increased their price objective on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Wells Fargo & Company boosted their target price on shares of Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group raised their price target on shares of Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

Insider Buying and Selling

In related news, CAO Gene Liu sold 165 shares of Atlassian stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total value of $40,563.60. Following the completion of the sale, the chief accounting officer now owns 56,423 shares in the company, valued at approximately $13,871,030.32. This trade represents a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $163.81, for a total value of $1,301,961.88. Following the transaction, the director now owns 151,012 shares in the company, valued at $24,737,275.72. This trade represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 257,694 shares of company stock valued at $50,560,726. 38.55% of the stock is currently owned by insiders.

Atlassian Stock Performance

NASDAQ:TEAM opened at $263.58 on Monday. The company’s 50-day moving average is $206.56 and its two-hundred day moving average is $179.79. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $269.40. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $68.64 billion, a price-to-earnings ratio of -173.41 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. During the same period in the prior year, the firm posted ($0.07) earnings per share. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. Analysts forecast that Atlassian Co. will post -0.54 EPS for the current 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.