Great Lakes Advisors LLC Purchases Shares of 7,987 Atlassian Co. (NASDAQ:TEAM)

Great Lakes Advisors LLC purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,987 shares of the technology company's stock, valued at approximately $1,944,000.

Several other institutional investors also recently added to or reduced their stakes in TEAM. Point72 Asset Management L.P. increased its position in Atlassian by 760.5% during the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company's stock worth $110,972,000 after buying an additional 617,566 shares during the period. Two Sigma Advisers LP increased its holdings 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 during the period. Westfield Capital Management Co. LP acquired a new position in shares of Atlassian in the third quarter valued at approximately $57,149,000. Parnassus Investments LLC increased its holdings in shares of Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company's stock valued at $51,016,000 after purchasing an additional 245,286 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in shares of 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 valued at $55,521,000 after purchasing an additional 226,246 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 research firms have recently issued reports on TEAM. Cantor Fitzgerald boosted their target price on Atlassian from $264.00 to $304.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Jefferies Financial Group boosted their target price on Atlassian from $300.00 to $325.00 and gave the company a "buy" rating in a report on Friday, January 24th. Citigroup boosted their target price on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a report on Friday, January 17th. UBS Group boosted their target price on Atlassian from $275.00 to $330.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Finally, StockNews.com raised Atlassian from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $316.77.

Atlassian Price Performance

TEAM traded up $10.41 during midday trading on Wednesday, reaching $229.86. 3,163,185 shares of the company's stock were exchanged, compared to its average volume of 1,943,061. The stock has a market capitalization of $60.22 billion, a PE ratio of -171.54 and a beta of 0.91. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The business's 50-day moving average price is $272.20 and its 200 day moving average price is $235.46.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly 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 return on equity of 17.37% and a negative net margin of 7.22%. As a group, equities analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of the business's 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 sale, the president now directly owns 211,991 shares in the company, valued at approximately $54,006,827.16. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $227.55, for a total transaction of $1,808,567.40. Following the completion of the sale, the chief executive officer now owns 103,324 shares of the company's stock, valued at approximately $23,511,376.20. The trade was a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 256,605 shares of company stock worth $69,903,340 over the last ninety days. 38.55% of the stock is currently owned by corporate insiders.

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.