Howard Capital Management Inc. Has $1.06 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Howard Capital Management Inc. grew its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 3.2% in the 4th quarter, HoldingsChannel reports. The firm owned 4,369 shares of the technology company’s stock after acquiring an additional 134 shares during the quarter. Howard Capital Management Inc.’s holdings in Atlassian were worth $1,063,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of TEAM. Avion Wealth raised its holdings in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after buying an additional 157 shares during the period. True Wealth Design LLC increased its position in shares of Atlassian by 23,100.0% in 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. Kestra Investment Management LLC acquired a new stake in shares of Atlassian during the fourth quarter valued at approximately $56,000. GAMMA Investing LLC lifted its position in shares of Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after acquiring an additional 54 shares in the last quarter. Finally, Reston Wealth Management LLC acquired a new position in Atlassian in the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TEAM. Jefferies Financial Group boosted their target price on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Macquarie upped their price target on Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. JMP Securities reissued a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Barclays lifted their target price on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Oppenheimer increased their price target on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $285.99 on Monday. The business’s 50-day simple moving average is $272.98 and its 200-day simple moving average is $223.88. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. 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 firm has a market cap of $74.93 billion, a price-to-earnings ratio of -213.42 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last announced its quarterly 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%. As a group, equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $236.89, for a total value of $1,882,801.72. Following the sale, the chief executive officer now directly owns 421,244 shares of the company’s stock, valued at approximately $99,788,491.16. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $254.76, for a total value of $387,235.20. Following the transaction, the president now directly owns 211,991 shares of the company’s stock, valued at $54,006,827.16. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,501 shares of company stock worth $75,480,290 in the last quarter. 38.55% of the stock is currently owned by company insiders.

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.