SYM FINANCIAL Corp Makes New $230,000 Investment in Atlassian Co. (NASDAQ:TEAM)

SYM FINANCIAL Corp bought a new stake in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, Holdings Channel reports. The institutional investor bought 945 shares of the technology company’s stock, valued at approximately $230,000.

Several other hedge funds also recently modified their holdings of the stock. Baillie Gifford & Co. lifted its stake in Atlassian by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after acquiring an additional 78,454 shares in the last quarter. State Street Corp lifted its position in shares of Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after purchasing an additional 8,957 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after purchasing an additional 131,621 shares during the last quarter. FMR LLC raised its stake in shares of Atlassian by 7.4% during the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after purchasing an additional 150,237 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Atlassian by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock worth $340,453,000 after buying an additional 57,911 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Trading Up 14.9 %

TEAM stock opened at $306.78 on Monday. The company has a market capitalization of $79.90 billion, a PE ratio of -201.83 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a one year low of $135.29 and a one year high of $324.37. The company’s 50 day moving average price is $260.51 and its two-hundred day moving average price is $208.44.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. As a group, analysts predict that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on TEAM shares. Robert W. Baird raised their price objective on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Scotiabank boosted their price objective on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research note on Friday. Canaccord Genuity Group increased their price objective on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Wells Fargo & Company upped their price target on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday. Finally, BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $307.00.

Insider Buying and Selling

In related news, CAO Gene Liu sold 445 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $230.00, for a total transaction of $102,350.00. Following the completion of the sale, the chief accounting officer now directly owns 58,723 shares in the company, valued at $13,506,290. This represents a 0.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $270.63, for a total transaction of $2,150,967.24. Following the completion of the sale, the director now directly owns 333,816 shares in the company, valued at approximately $90,340,624.08. This trade represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,208 shares of company stock worth $63,572,404 in the last ninety days. 38.55% of the stock is owned by insiders.

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.