By otakuyassine3@gmail.com 
LPL Financial LLC grew its stake in Atlassian Co. (NASDAQ:TEAM – Free Report) by 93.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 51,534 shares of the technology company’s stock after buying an additional 24,891 shares during the period. LPL Financial LLC’s holdings in Atlassian were worth $12,542,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its stake in Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after buying an additional 8,957 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Atlassian by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after acquiring an additional 131,621 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Atlassian by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock valued at $340,453,000 after purchasing an additional 57,911 shares during the period. Two Sigma Advisers LP boosted its position in shares of Atlassian by 122.0% during the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after purchasing an additional 551,500 shares in the last quarter. Finally, Amundi grew its stake in Atlassian by 13.8% during the fourth quarter. Amundi now owns 724,644 shares of the technology company’s stock worth $177,168,000 after purchasing an additional 87,989 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.
Insider Buying and Selling
In other Atlassian news, CEO Michael Cannon-Brookes sold 15,896 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the completion of the sale, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at $104,529,711.60. This trade represents a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $229.64, for a total value of $1,825,178.72. Following the transaction, the director now directly owns 23,844 shares in the company, valued at $5,475,536.16. This represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 263,033 shares of company stock worth $70,144,394. Insiders own 38.55% of the company’s stock.
Atlassian Price Performance
Shares of NASDAQ TEAM opened at $223.96 on Thursday. The company has a market capitalization of $58.68 billion, a PE ratio of -167.13 and a beta of 1.07. 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’s 50 day moving average price is $266.94 and its 200-day moving average price is $239.70. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00.
Atlassian (NASDAQ:TEAM – Get Free Report) last announced its quarterly earnings data 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 EPS for the current year.
Analyst Ratings Changes
A number of equities analysts have issued reports on TEAM shares. Macquarie increased their price target on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Mizuho raised their price target on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. UBS Group cut their price objective on shares of Atlassian from $330.00 to $230.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Truist Financial reduced their target price on Atlassian from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Monday. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $308.73.
Check Out Our Latest Research Report on TEAM
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.
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