Donoghue Forlines LLC Buys 4,961 Shares of Atlassian Co. (NASDAQ:TEAM)

Donoghue Forlines LLC increased its stake in Atlassian Co. (NASDAQ:TEAM) by 176.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,779 shares of the technology company’s stock after acquiring an additional 4,961 shares during the period. Donoghue Forlines LLC’s holdings in Atlassian were worth $1,893,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC lifted its stake in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares during the period. GAMMA Investing LLC lifted its position in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares during the period. Reston Wealth Management LLC bought a new position in shares of Atlassian in the 3rd quarter valued at about $48,000. Quarry LP grew its position in shares of Atlassian by 143.8% during the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock worth $66,000 after buying an additional 220 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its holdings in Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after buying an additional 82 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Atlassian Stock Up 0.2 %

Shares of Atlassian stock opened at $261.36 on Thursday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The business’s 50 day simple moving average is $256.71 and its 200 day simple moving average is $203.21. The firm has a market cap of $68.07 billion, a PE ratio of -171.66 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned ($0.07) earnings per share. The firm’s revenue was up 21.5% compared to the same quarter last year. On average, analysts predict that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup lifted their target price on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Piper Sandler upped their price objective on Atlassian from $265.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Macquarie started coverage on Atlassian in a report on Thursday, December 12th. They set a “neutral” rating and a $290.00 target price on the stock. Truist Financial upgraded Atlassian from a “hold” rating to a “buy” rating and boosted their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, January 7th. Finally, Morgan Stanley increased their price target on shares of Atlassian from $259.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $272.00.

Insider Transactions at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $255.71, for a total transaction of $2,032,383.08. Following the completion of the transaction, the director now owns 381,504 shares in the company, valued at approximately $97,554,387.84. This trade represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 4,560 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $1,028,052.00. Following the completion of the sale, the president now owns 224,436 shares in the company, valued at $50,599,096.20. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 272,188 shares of company stock worth $66,820,848 in the last three months. Insiders own 38.55% of the company’s stock.

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.