Great Lakes Advisors LLC Makes New $1.94 Million Investment in Atlassian Co. (NASDAQ:TEAM)

Great Lakes Advisors LLC bought a new position in shares of Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 7,987 shares of the technology company’s stock, valued at approximately $1,944,000.

A number of other large investors also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares during the last quarter. Avion Wealth lifted its holdings in shares of Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after purchasing an additional 157 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in shares of Atlassian in the 4th quarter worth approximately $49,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Atlassian in the 4th quarter worth approximately $56,000. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. KeyCorp raised their price target on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $255.00 to $292.00 in a research note on Friday, January 10th. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research note on Wednesday. Morgan Stanley lifted their target price on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and set a $330.00 target price (up previously from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $319.71.

Insider Activity

In other news, CFO Joseph Leo Binz sold 2,587 shares of Atlassian stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.09, for a total transaction of $807,376.83. Following the transaction, the chief financial officer now owns 169,342 shares in the company, valued at approximately $52,849,944.78. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Monday, December 16th. The shares were sold at an average price of $278.13, for a total value of $2,210,577.24. Following the transaction, the chief executive officer now owns 79,480 shares in the company, valued at $22,105,772.40. This represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 272,501 shares of company stock worth $74,167,124. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $218.44 on Friday. 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 has a market capitalization of $57.23 billion, a price-to-earnings ratio of -163.01 and a beta of 0.91. The stock’s fifty day simple moving average is $273.44 and its 200 day simple moving average is $234.20. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its 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 return on equity of 17.37% and a negative net margin of 7.22%. As a group, sell-side analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.