38,743 Shares in Atlassian Co. (NASDAQ:TEAM) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 38,743 shares of the technology company's stock, valued at approximately $9,429,000.

Several other hedge funds and other institutional investors have also modified their holdings of TEAM. State Street Corp lifted its stake in Atlassian by 0.3% in the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company's stock worth $565,424,000 after acquiring an additional 8,957 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock worth $393,588,000 after purchasing an additional 131,621 shares in the last quarter. FMR LLC boosted its holdings in shares of Atlassian by 7.4% during the third 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. Geode Capital Management LLC grew its position in Atlassian by 2.8% during the third quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company's stock valued at $340,453,000 after purchasing an additional 57,911 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Atlassian by 5.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,210,351 shares of the technology company's stock valued at $192,216,000 after buying an additional 58,536 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Macquarie lifted their target price on shares of Atlassian from $290.00 to $317.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. JMP Securities reissued a "market perform" rating on shares of Atlassian in a research report on Friday, January 31st. UBS Group upped their target price on Atlassian from $275.00 to $330.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Raymond James reiterated an "outperform" rating and set a $330.00 price target (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. Finally, Morgan Stanley boosted their price target on Atlassian from $315.00 to $370.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $316.77.

Insider Buying and Selling at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares in the company, valued at approximately $54,690,889.35. This trade represents a 0.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $253.01, for a total value of $2,010,923.48. Following the sale, the director now owns 389,452 shares in the company, valued at approximately $98,535,250.52. This represents a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,085 shares of company stock valued at $68,986,450 in the last ninety days. Company insiders own 38.55% of the company's stock.

Atlassian Stock Performance

Shares of NASDAQ TEAM traded up $1.60 during trading hours on Tuesday, hitting $236.22. 1,531,221 shares of the company's stock were exchanged, compared to its average volume of 1,941,070. The stock has a market capitalization of $61.89 billion, a price-to-earnings ratio of -176.28 and a beta of 0.91. The company's 50-day moving average price is $271.21 and its 200-day moving average price is $237.32. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data 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 net margin of 7.22% and a negative return on equity of 17.37%. On average, sell-side analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Atlassian Company 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.