29,250 Shares in Atlassian Co. (NASDAQ:TEAM) Acquired by Essential Planning LLC.

Essential Planning LLC. bought a new position in Atlassian Co. (NASDAQ:TEAM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 29,250 shares of the technology company’s stock, valued at approximately $6,666,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its holdings in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares during the last quarter. Allworth Financial LP increased its position in Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after buying an additional 47 shares during the period. GAMMA Investing LLC increased its position in Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after buying an additional 54 shares during the period. Venturi Wealth Management LLC increased its position in Atlassian by 4.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock worth $357,000 after buying an additional 56 shares during the period. Finally, J.W. Cole Advisors Inc. increased its position in Atlassian by 1.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock worth $963,000 after buying an additional 59 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Trading Up 3.8 %

Shares of TEAM opened at $224.10 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The firm has a market capitalization of $58.71 billion, a PE ratio of -167.24 and a beta of 0.91. The stock’s fifty day simple moving average is $275.10 and its 200-day simple moving average is $233.57.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (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, research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. Raymond James reaffirmed an “outperform” rating and issued a $330.00 price target (up from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Jefferies Financial Group lifted their price target on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Scotiabank lifted their price target on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Citigroup boosted their price objective on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, Canaccord Genuity Group boosted their price objective on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $319.71.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 15,896 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the completion of the sale, the chief executive officer now owns 429,192 shares in the company, valued at approximately $104,529,711.60. This represents a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Gene Liu sold 779 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the sale, the chief accounting officer now owns 52,710 shares of the company’s stock, valued at $16,867,727.10. This trade represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 272,501 shares of company stock worth $74,569,690. 38.55% of the stock is owned by insiders.

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.