Hardman Johnston Global Advisors LLC Acquires 4,421 Shares of Atlassian Co. (NASDAQ:TEAM)

Hardman Johnston Global Advisors LLC lifted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 0.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 528,349 shares of the technology company’s stock after buying an additional 4,421 shares during the period. Atlassian makes up about 5.3% of Hardman Johnston Global Advisors LLC’s holdings, making the stock its 5th largest holding. Hardman Johnston Global Advisors LLC’s holdings in Atlassian were worth $128,590,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. True Wealth Design LLC raised its position in Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares in the last quarter. Avion Wealth raised its holdings in shares of Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares during the period. Reston Wealth Management LLC acquired a new stake in Atlassian in the 3rd quarter valued at about $48,000. Kestra Investment Management LLC bought a new position in Atlassian during the fourth quarter worth about $56,000. Finally, Brown Brothers Harriman & Co. increased its position in Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Down 4.2 %

Shares of NASDAQ:TEAM opened at $285.99 on Monday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a market capitalization of $74.93 billion, a PE ratio of -213.42 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a fifty day moving average of $272.98 and a 200-day moving average of $223.88.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, equities analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the completion of the transaction, the president now directly owns 211,991 shares in the company, valued at $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $297.51, for a total value of $2,364,609.48. Following the completion of the transaction, the chief executive officer now directly owns 214,596 shares in the company, valued at approximately $63,844,455.96. This represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,501 shares of company stock worth $75,480,290 in the last ninety days. Company insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TEAM shares. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research report on Friday. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $255.00 to $292.00 in a report on Friday, January 10th. William Blair reissued an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. JMP Securities restated a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Finally, Oppenheimer increased their target price on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $319.71.

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.