Murphy & Mullick Capital Management Corp Takes $27,000 Position in Atlassian Co. (NASDAQ:TEAM)

Murphy & Mullick Capital Management Corp purchased a new position in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 112 shares of the technology company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Avion Wealth lifted its stake in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares during the last quarter. Assetmark Inc. increased its holdings in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares in the last quarter. Mainstream Capital Management LLC bought a new position in Atlassian in the fourth quarter valued at about $49,000. True Wealth Design LLC boosted its stake in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares in the last quarter. Finally, Kestra Investment Management LLC bought a new stake in shares of Atlassian during the fourth quarter worth about $56,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $217.99 on Friday. The stock has a market cap of $57.11 billion, a price-to-earnings ratio of -162.68 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm’s 50-day simple moving average is $269.28 and its 200 day simple moving average is $238.07.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. As a group, research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays raised their price target on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Wells Fargo & Company raised their price target on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. KeyCorp boosted their price target on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Scotiabank boosted their target price on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $316.77.

Insiders Place Their Bets

In related news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $229.64, for a total transaction of $1,825,178.72. Following the sale, the director now directly owns 23,844 shares in the company, valued at approximately $5,475,536.16. This trade represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the transaction, the president now owns 210,471 shares of the company’s stock, valued at $54,690,889.35. This trade represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,033 shares of company stock valued at $70,644,164 in 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.