2,246 Shares in Atlassian Co. (NASDAQ:TEAM) Purchased by New Century Financial Group LLC

New Century Financial Group LLC bought a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,246 shares of the technology company’s stock, valued at approximately $397,000.

A number of other institutional investors have also added to or reduced their stakes in TEAM. Bank of Nova Scotia raised its stake in shares of Atlassian by 348.7% in the fourth quarter. Bank of Nova Scotia now owns 7,722 shares of the technology company’s stock valued at $1,837,000 after acquiring an additional 6,001 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Atlassian by 3.2% in the fourth quarter. CIBC Asset Management Inc now owns 27,112 shares of the technology company’s stock valued at $6,449,000 after acquiring an additional 849 shares during the last quarter. Rafferty Asset Management LLC raised its position in Atlassian by 12.8% in the 4th quarter. Rafferty Asset Management LLC now owns 66,458 shares of the technology company’s stock worth $15,808,000 after purchasing an additional 7,539 shares during the last quarter. Belpointe Asset Management LLC raised its position in Atlassian by 7.3% in the 4th quarter. Belpointe Asset Management LLC now owns 4,232 shares of the technology company’s stock worth $1,007,000 after purchasing an additional 289 shares during the last quarter. Finally, Blueshift Asset Management LLC bought a new position in Atlassian in the 4th quarter worth approximately $250,000. 93.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Atlassian

In other news, CTO Rajeev Bashyam Rajan sold 199 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the sale, the chief technology officer now owns 128,957 shares in the company, valued at $18,838,038.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $186.48, for a total value of $1,482,143.04. Following the completion of the sale, the chief executive officer now directly owns 476,880 shares in the company, valued at $88,928,582.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the sale, the chief technology officer now owns 128,957 shares of the company’s stock, valued at $18,838,038.56. The disclosure for this sale can be found here. Insiders sold a total of 224,263 shares of company stock worth $37,255,440 over the last quarter. Company insiders own 40.48% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TEAM. Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Morgan Stanley lowered their target price on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. Mizuho lowered their target price on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Scotiabank lowered their target price on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Finally, BMO Capital Markets lowered their target price on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $216.65.

Atlassian Trading Up 1.6 %

Atlassian stock opened at $161.42 on Wednesday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $41.97 billion, a P/E ratio of -252.08 and a beta of 0.73. The stock has a 50-day simple moving average of $159.98 and a 200 day simple moving average of $173.22.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company posted ($0.21) earnings per share. Atlassian’s quarterly revenue was up 20.5% on a year-over-year basis. Analysts expect that Atlassian Co. will post -0.58 earnings per share 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.