JPMorgan Chase & Co. Has $1.04 Billion Stake in Atlassian Co. (NASDAQ:TEAM)

JPMorgan Chase & Co. lifted its position in Atlassian Co. (NASDAQ:TEAM) by 72.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,284,400 shares of the technology company’s stock after buying an additional 1,806,042 shares during the quarter. JPMorgan Chase & Co. owned about 1.64% of Atlassian worth $1,042,737,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. lifted its stake in shares of Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after buying an additional 617,566 shares during the period. Two Sigma Advisers LP raised its stake in shares of Atlassian by 122.0% in the third 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. Los Angeles Capital Management LLC lifted its position in Atlassian by 12,047.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock worth $55,521,000 after purchasing an additional 226,246 shares during the period. Fisher Funds Management LTD acquired a new stake in Atlassian during the fourth quarter worth $47,469,000. Finally, PointState Capital LP bought a new stake in Atlassian in the 3rd quarter valued at $30,566,000. 94.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Gene Liu sold 779 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the transaction, the chief accounting officer now owns 52,710 shares in the company, valued at $16,867,727.10. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the transaction, the chief executive officer now owns 429,192 shares in the company, valued at $104,529,711.60. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,033 shares of company stock valued at $70,644,164 over the last quarter. 38.55% of the stock is owned by company insiders.

Atlassian Stock Down 2.1 %

TEAM opened at $217.99 on Friday. The stock’s fifty day simple moving average is $269.28 and its 200 day simple moving average is $238.07. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The stock has a market cap of $57.11 billion, a PE ratio of -162.68 and a beta of 0.91. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate 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, research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the topic of several recent research reports. Cantor Fitzgerald lifted their target price on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Citigroup lifted their price objective on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. Jefferies Financial Group increased their target price on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Raymond James reaffirmed an “outperform” rating and issued a $330.00 price target (up previously from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Finally, Macquarie increased their price objective on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $316.77.

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.