Jefferies Financial Group Inc. Purchases Shares of 6,995 Atlassian Co. (NASDAQ:TEAM)

Jefferies Financial Group Inc. purchased a new stake in Atlassian Co. (NASDAQ:TEAM) in the 4th quarter, HoldingsChannel reports. The fund purchased 6,995 shares of the technology company’s stock, valued at approximately $1,702,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TEAM. Massachusetts Financial Services Co. MA bought a new stake in Atlassian in the fourth quarter valued at $687,486,000. Voya Investment Management LLC increased its position in shares of Atlassian by 17,941.0% during the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock worth $528,693,000 after acquiring an additional 2,160,810 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after acquiring an additional 1,806,042 shares in the last quarter. Invesco Ltd. increased its position in shares of Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock worth $595,171,000 after acquiring an additional 1,777,179 shares in the last quarter. Finally, Durable Capital Partners LP increased its position in shares of Atlassian by 499.7% during the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company’s stock worth $383,456,000 after acquiring an additional 1,312,820 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Mizuho boosted their target price 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. Macquarie decreased their target price on shares of Atlassian from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. UBS Group decreased their target price on shares of Atlassian from $230.00 to $215.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Cantor Fitzgerald raised shares of Atlassian from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Finally, Citigroup boosted their target price 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. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $285.29.

Atlassian Stock Down 2.0%

TEAM opened at $224.88 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market cap of $58.92 billion, a price-to-earnings ratio of -167.82 and a beta of 1.06. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company’s 50-day moving average price is $213.87 and its two-hundred day moving average price is $246.53.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.89 earnings per share. As a group, equities analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $313.95, for a total transaction of $2,495,274.60. Following the sale, the chief executive officer now directly owns 230,492 shares in the company, valued at approximately $72,362,963.40. This represents a 3.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.58, for a total transaction of $475,121.60. Following the sale, the president now owns 201,657 shares in the company, valued at $63,033,945.06. The trade was a 0.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 252,786 shares of company stock worth $58,795,052 over the last three months. 38.55% of the stock is currently 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.