Gladstone Institutional Advisory LLC Invests $577,000 in Atlassian Co. (NASDAQ:TEAM)

Gladstone Institutional Advisory LLC acquired a new position in Atlassian Co. (NASDAQ:TEAM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,369 shares of the technology company’s stock, valued at approximately $577,000.

Several other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares in the last quarter. Creative Planning increased its position in shares of Atlassian by 32.3% in the 3rd quarter. Creative Planning now owns 7,947 shares of the technology company’s stock valued at $1,262,000 after purchasing an additional 1,941 shares during the last quarter. Swedbank AB grew its position in shares of Atlassian by 4.2% in the 3rd quarter. Swedbank AB now owns 63,535 shares of the technology company’s stock valued at $10,090,000 after buying an additional 2,539 shares during the last quarter. Slow Capital Inc. purchased a new position in shares of Atlassian in the 3rd quarter valued at $5,228,000. Finally, Sequoia Financial Advisors LLC grew its position in shares of Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after buying an additional 520 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Piper Sandler increased their target price on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Oppenheimer raised their price objective 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. Mizuho raised their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Citigroup raised their price objective on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Macquarie raised their price objective on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $313.10 on Friday. The company has a market cap of $82.03 billion, a PE ratio of -233.65 and a beta of 0.87. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. The company has a 50-day simple moving average of $269.40 and a 200-day simple moving average of $216.86.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Activity at Atlassian

In other Atlassian news, CFO Joseph Leo Binz sold 2,587 shares of Atlassian stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.09, for a total transaction of $807,376.83. Following the transaction, the chief financial officer now directly owns 169,342 shares of the company’s stock, valued at $52,849,944.78. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $311.90, for a total transaction of $2,478,981.20. Following the transaction, the chief executive officer now directly owns 238,440 shares in the company, valued at approximately $74,369,436. This trade represents a 3.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 285,224 shares of company stock worth $76,899,985. 38.55% of the stock is 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.