Fairfield Financial Advisors LTD Invests $140,000 in Atlassian Co. (NASDAQ:TEAM)

Fairfield Financial Advisors LTD bought a new stake in Atlassian Co. (NASDAQ:TEAM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 792 shares of the technology company’s stock, valued at approximately $140,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEAM. Hollencrest Capital Management raised its holdings in shares of Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares during the period. Asset Dedication LLC increased its stake in Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the period. Trust Co. of Vermont lifted its position in shares of Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Atlassian in the second quarter valued at approximately $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Atlassian in the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insider Activity at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $153.84, for a total transaction of $1,222,720.32. Following the completion of the sale, the chief executive officer now directly owns 55,636 shares of the company’s stock, valued at approximately $8,559,042.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $153.84, for a total transaction of $1,222,720.32. Following the completion of the sale, the chief executive officer now directly owns 55,636 shares of the company’s stock, valued at $8,559,042.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $160.00, for a total transaction of $121,600.00. Following the completion of the transaction, the president now directly owns 153,294 shares in the company, valued at $24,527,040. The disclosure for this sale can be found here. Insiders have sold 240,159 shares of company stock worth $40,166,893 in the last quarter. Company insiders own 40.48% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the subject of several recent research reports. Piper Sandler raised shares of Atlassian from a “neutral” rating to an “overweight” rating and raised their price target for the company from $200.00 to $225.00 in a research report on Tuesday, July 2nd. JMP Securities raised Atlassian to a “hold” rating in a research note on Friday, August 2nd. Oppenheimer reduced their price target on Atlassian from $250.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Truist Financial lowered their price objective on Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley reduced their target price on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.69.

Atlassian Price Performance

TEAM stock opened at $163.74 on Monday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $42.58 billion, a P/E ratio of -259.90 and a beta of 0.73. The business has a 50 day simple moving average of $163.71 and a 200-day simple moving average of $176.72. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69.

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

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.