Perigon Wealth Management LLC Acquires Shares of 901 Atlassian Co. (NASDAQ:TEAM)

Perigon Wealth Management LLC bought a new position in Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 901 shares of the technology company’s stock, valued at approximately $214,000.

Other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Atlassian by 12.4% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock valued at $14,763,000 after purchasing an additional 8,073 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of Atlassian during the 4th quarter valued at about $202,000. American Century Companies Inc. lifted its holdings in shares of Atlassian by 58.7% during the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after buying an additional 159,102 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Atlassian in the 4th quarter valued at approximately $13,805,000. Finally, Royal Bank of Canada increased its holdings in Atlassian by 17.3% in the third quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock worth $76,862,000 after buying an additional 56,149 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $247.60, for a total value of $2,040,471.60. Following the completion of the transaction, the chief executive officer now directly owns 387,327 shares of the company’s stock, valued at $95,902,165.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CTO Rajeev Bashyam Rajan sold 872 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $185,622.64. Following the sale, the chief technology officer now directly owns 142,103 shares in the company, valued at approximately $30,249,465.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $247.60, for a total value of $2,040,471.60. Following the completion of the transaction, the chief executive officer now directly owns 387,327 shares of the company’s stock, valued at $95,902,165.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,159 shares of company stock worth $61,684,688. Company insiders own 40.48% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. KeyCorp started coverage on shares of Atlassian in a research report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. The Goldman Sachs Group raised their target price on Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Wells Fargo & Company upped their price target on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, Mizuho cut their price objective on Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $224.25.

Atlassian Stock Up 0.1 %

NASDAQ TEAM opened at $195.07 on Thursday. The company’s fifty day moving average is $203.04 and its two-hundred day moving average is $206.74. Atlassian Co. has a 52-week low of $128.02 and a 52-week high of $258.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. On average, sell-side analysts anticipate that Atlassian Co. will post -0.4 earnings per share for the current year.

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.