B.O.S.S. Retirement Advisors LLC Acquires New Holdings in Atlassian Co. (NASDAQ:TEAM)

B.O.S.S. Retirement Advisors LLC acquired a new position in Atlassian Co. (NASDAQ:TEAM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,023 shares of the technology company’s stock, valued at approximately $1,222,000.

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

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $265.33, for a total transaction of $2,108,842.84. Following the completion of the sale, the chief executive officer now owns 365,608 shares in the company, valued at approximately $97,006,770.64. The trade was a 2.13 % 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 165 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total transaction of $40,563.60. Following the completion of the transaction, the chief accounting officer now directly owns 56,423 shares in the company, valued at $13,871,030.32. This trade represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 272,188 shares of company stock valued at $67,421,558. Insiders own 38.55% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of several research analyst reports. Oppenheimer raised their price target on Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Truist Financial raised shares of Atlassian from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, January 7th. Cantor Fitzgerald assumed coverage on shares of Atlassian in a research note on Friday, January 17th. They set a “neutral” rating and a $264.00 price objective for the company. Macquarie assumed coverage on shares of Atlassian in a research note on Thursday, December 12th. They issued a “neutral” rating and a $290.00 target price on the stock. Finally, BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $273.19.

Atlassian Stock Down 0.3 %

Shares of TEAM opened at $264.81 on Friday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a fifty day simple moving average of $257.68 and a two-hundred day simple moving average of $204.62. The company has a market capitalization of $68.97 billion, a PE ratio of -174.22 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last posted its earnings results 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 company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.07) earnings per share. As a group, equities analysts forecast that Atlassian Co. will post -0.55 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.