Envestnet Asset Management Inc. Acquires 17,187 Shares of Atlassian Co. (NASDAQ:TEAM)

Envestnet Asset Management Inc. increased its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 344,596 shares of the technology company's stock after purchasing an additional 17,187 shares during the quarter. Envestnet Asset Management Inc. owned 0.13% of Atlassian worth $83,868,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Virtu Financial LLC bought a new position in Atlassian in the third quarter valued at approximately $606,000. Fulton Bank N.A. bought a new position in shares of Atlassian in the 4th quarter valued at $447,000. Allworth Financial LP raised its holdings in shares of Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after buying an additional 47 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Atlassian by 20.1% during the 4th quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company's stock worth $7,458,000 after buying an additional 5,088 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Atlassian by 61.4% in the third quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company's stock valued at $1,710,000 after buying an additional 4,099 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Up 0.2 %

Shares of NASDAQ TEAM traded up $0.34 during trading on Friday, hitting $198.37. 2,003,551 shares of the company traded hands, compared to its average volume of 2,039,036. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The business's fifty day moving average is $251.13 and its 200 day moving average is $241.25. The firm has a market capitalization of $51.97 billion, a price-to-earnings ratio of -148.04 and a beta of 1.07. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

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Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. Equities research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TEAM. UBS Group reduced their price target on shares of Atlassian from $330.00 to $230.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 1st. Citigroup raised their target price on shares of Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, January 17th. JMP Securities reiterated a "market perform" rating on shares of Atlassian in a report on Friday, January 31st. Scotiabank raised their price objective on Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a report on Friday, January 31st. Finally, Oppenheimer upped their target price on Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus price target of $297.50.

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, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the transaction, the president now owns 210,471 shares of the company's stock, valued at $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $251.20, for a total value of $1,996,537.60. Following the completion of the sale, the chief executive officer now directly owns 405,348 shares of the company's stock, valued at $101,823,417.60. The trade was a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 263,033 shares of company stock valued at $68,608,284. Corporate insiders own 38.55% of the company's stock.

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.