Louisiana State Employees Retirement System Reduces Stake in Atlassian Co. (NASDAQ:TEAM)

Louisiana State Employees Retirement System reduced its stake in Atlassian Co. (NASDAQ:TEAM) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,800 shares of the technology company’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Atlassian were worth $2,872,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. grew its holdings in Atlassian by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after buying an additional 78,454 shares in the last quarter. State Street Corp grew its holdings in Atlassian by 0.3% in the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after buying an additional 8,957 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Atlassian by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after buying an additional 131,621 shares in the last quarter. FMR LLC grew its holdings in shares of Atlassian by 7.4% during the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after purchasing an additional 150,237 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Atlassian by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock worth $340,453,000 after purchasing an additional 57,911 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Oppenheimer increased their price target on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Citigroup increased their price target on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company increased their price target on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Jefferies Financial Group increased their price target on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, UBS Group increased their price target on Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian Price Performance

TEAM stock opened at $316.00 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. The firm has a market capitalization of $82.79 billion, a P/E ratio of -235.82 and a beta of 0.87. The business’s 50-day moving average is $268.61 and its two-hundred day moving average is $216.16. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results 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%. Analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In other news, President Anutthara Bharadwaj sold 1,659 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total value of $407,798.79. Following the transaction, the president now owns 213,511 shares in the company, valued at approximately $52,483,138.91. This represents a 0.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $315.74, for a total value of $2,509,501.52. Following the completion of the transaction, the chief executive officer now owns 254,336 shares in the company, valued at approximately $80,304,048.64. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 272,601 shares of company stock worth $72,961,244. 38.55% of the stock is currently owned by insiders.

Atlassian 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.