Atlassian Co. (NASDAQ:TEAM) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 20.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 151,021 shares of the technology company’s stock after acquiring an additional 25,703 shares during the period. Los Angeles Capital Management LLC owned approximately 0.06% of Atlassian worth $35,922,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Atlassian by 0.8% during the third quarter. Vanguard Group Inc. now owns 14,851,471 shares of the technology company’s stock worth $2,992,720,000 after buying an additional 112,482 shares in the last quarter. WCM Investment Management LLC grew its position in shares of Atlassian by 2.7% in the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after purchasing an additional 249,017 shares during the period. Baillie Gifford & Co. increased its stake in Atlassian by 20.7% in the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after purchasing an additional 1,511,318 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in Atlassian by 1.1% during the third quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock worth $1,218,765,000 after buying an additional 63,903 shares during the period. Finally, Morgan Stanley boosted its stake in Atlassian by 156.8% in the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after buying an additional 1,095,297 shares during the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TEAM shares. Truist Financial dropped their price objective on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Canaccord Genuity Group decreased their price target on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, April 26th. The Goldman Sachs Group upped their price objective on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a report on Monday. Finally, Wells Fargo & Company boosted their price target on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $223.22.

Insider Activity at Atlassian

In other news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $218.32, for a total value of $1,799,175.12. Following the transaction, the chief executive officer now directly owns 263,712 shares in the company, valued at approximately $57,573,603.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, President Anutthara Bharadwaj sold 4,139 shares of Atlassian stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $881,068.93. Following the transaction, the president now owns 167,535 shares in the company, valued at $35,663,175.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $218.32, for a total value of $1,799,175.12. Following the completion of the sale, the chief executive officer now directly owns 263,712 shares of the company’s stock, valued at $57,573,603.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 300,450 shares of company stock valued at $60,110,850. Corporate insiders own 40.48% of the company’s stock.

Atlassian Stock Down 0.0 %

Shares of TEAM stock traded down $0.03 during mid-day trading on Friday, reaching $183.52. 1,526,307 shares of the company were exchanged, compared to its average volume of 1,772,207. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.07 and a current ratio of 1.18. The business’s 50 day simple moving average is $197.23 and its 200 day simple moving average is $205.93. The company has a market capitalization of $47.61 billion, a P/E ratio of -291.30 and a beta of 0.67. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.40) EPS. Research analysts predict that Atlassian Co. will post -0.29 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.