Los Angeles Capital Management LLC Raises Position in Atlassian Co. (NASDAQ:TEAM)

Los Angeles Capital Management LLC increased its position in shares of Atlassian Co. (NASDAQ:TEAM) by 12,047.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,124 shares of the technology company’s stock after purchasing an additional 226,246 shares during the period. Los Angeles Capital Management LLC owned 0.09% of Atlassian worth $55,521,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TEAM. True Wealth Design LLC raised its position in shares of Atlassian by 23,100.0% during the 3rd 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 during the period. Avion Wealth increased its holdings 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 acquiring an additional 157 shares during the last quarter. Reston Wealth Management LLC bought a new stake in Atlassian in the 3rd quarter valued at $48,000. Kestra Investment Management LLC bought a new stake in Atlassian in the 4th quarter valued at $56,000. Finally, Brown Brothers Harriman & Co. increased its holdings in Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after acquiring an additional 82 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Atlassian Stock Performance

TEAM opened at $284.06 on Tuesday. 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 company has a market cap of $74.42 billion, a price-to-earnings ratio of -211.98 and a beta of 0.87. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The firm’s fifty day simple moving average is $273.10 and its two-hundred day simple moving average is $224.90.

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

Insider Buying and Selling at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the transaction, the president now owns 211,991 shares in the company, valued at $54,006,827.16. The trade was a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the transaction, the chief executive officer now owns 429,192 shares of the company’s stock, valued at $104,529,711.60. This represents a 3.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 275,501 shares of company stock worth $75,480,290 over the last three months. Insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TEAM. KeyCorp lifted their price target on shares of Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup boosted their target price on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Piper Sandler boosted their target price on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group boosted their target price on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group boosted their target price on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

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.