Powell Investment Advisors LLC Takes $290,000 Position in Atlassian Co. (NASDAQ:TEAM)

Powell Investment Advisors LLC bought a new position in Atlassian Co. (NASDAQ:TEAM) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,190 shares of the technology company’s stock, valued at approximately $290,000.

A number of other institutional investors have also recently bought and sold shares of TEAM. Savant Capital LLC bought a new position in shares of Atlassian during the 4th quarter worth about $248,000. Newbridge Financial Services Group Inc. bought a new position in Atlassian during the fourth quarter worth about $119,000. Empowered Funds LLC boosted its holdings in Atlassian by 39.6% during the fourth quarter. Empowered Funds LLC now owns 3,361 shares of the technology company’s stock valued at $818,000 after purchasing an additional 953 shares in the last quarter. Austin Asset Management Co Inc acquired a new position in shares of Atlassian in the 4th quarter worth approximately $273,000. Finally, Platform Technology Partners bought a new position in shares of Atlassian during the 4th quarter worth approximately $243,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $239.19, for a total transaction of $1,901,082.12. Following the sale, the chief executive officer now directly owns 230,492 shares in the company, valued at $55,131,381.48. This trade represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Gene Liu sold 779 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $320.01, for a total transaction of $249,287.79. Following the completion of the sale, the chief accounting officer now directly owns 52,710 shares in the company, valued at $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. Over the last ninety days, insiders have sold 256,705 shares of company stock worth $67,890,023. Corporate insiders own 38.55% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the topic of several research analyst reports. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company upped their price target on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Mizuho raised their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, Scotiabank upped their target price on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian Stock Down 1.5 %

Atlassian stock opened at $314.28 on Monday. The firm has a market capitalization of $82.34 billion, a price-to-earnings ratio of -234.54 and a beta of 0.87. The company’s 50 day simple moving average is $265.92 and its 200 day simple moving average is $213.13. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $324.37.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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, sell-side analysts anticipate that Atlassian Co. will post -0.34 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.