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

JPMorgan Chase & Co. boosted its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 72.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,284,400 shares of the technology company's stock after purchasing an additional 1,806,042 shares during the quarter. JPMorgan Chase & Co. owned about 1.64% of Atlassian worth $1,042,737,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new stake in Atlassian in the 4th quarter valued at approximately $27,000. Avion Wealth increased its stake in Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after purchasing an additional 157 shares during the period. Assetmark Inc. boosted its position in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after buying an additional 41 shares during the period. Mainstream Capital Management LLC acquired a new position in Atlassian during the 4th quarter worth $49,000. Finally, True Wealth Design LLC lifted its stake in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock worth $37,000 after acquiring an additional 231 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TEAM has been the topic of a number of research reports. Canaccord Genuity Group raised their price target on Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Macquarie lifted their price target on Atlassian from $290.00 to $317.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. BMO Capital Markets raised Atlassian from a "market perform" rating to an "outperform" rating and raised their target price for the company from $255.00 to $292.00 in a report on Friday, January 10th. Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and dropped their target price for the company from $304.00 to $272.00 in a report on Wednesday. Finally, Jefferies Financial Group cut their target price on shares of Atlassian from $400.00 to $330.00 and set a "buy" rating for the company in a research report on Monday. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $308.73.

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Atlassian Stock Up 3.5 %

Shares of Atlassian stock traded up $7.63 on Wednesday, hitting $224.04. 716,410 shares of the company traded hands, compared to its average volume of 1,979,602. The company has a market cap of $58.70 billion, a PE ratio of -166.79 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a 50-day moving average price of $267.68 and a 200 day moving average price of $239.81.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Sell-side analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $242.27, for a total transaction of $1,925,561.96. Following the completion of the sale, the chief executive officer now owns 476,880 shares in the company, valued at approximately $115,533,717.60. The trade was a 1.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Joseph Leo Binz sold 2,587 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.09, for a total value of $807,376.83. Following the completion of the transaction, the chief financial officer now owns 169,342 shares of the company's stock, valued at $52,849,944.78. This represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 270,981 shares of company stock worth $72,069,956 in the last quarter. 38.55% of the stock is 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.