LPL Financial LLC Buys 24,891 Shares of Atlassian Co. (NASDAQ:TEAM)

LPL Financial LLC lifted its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 93.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,534 shares of the technology company's stock after buying an additional 24,891 shares during the quarter. LPL Financial LLC's holdings in Atlassian were worth $12,542,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS acquired a new position in shares of Atlassian during the 4th quarter worth about $19,446,000. Virtu Financial LLC raised its stake in Atlassian by 77.4% in the fourth quarter. Virtu Financial LLC now owns 6,767 shares of the technology company's stock valued at $1,647,000 after buying an additional 2,952 shares during the period. TD Private Client Wealth LLC lifted its position in shares of Atlassian by 9,292.4% in the fourth quarter. TD Private Client Wealth LLC now owns 9,862 shares of the technology company's stock valued at $2,400,000 after buying an additional 9,757 shares during the last quarter. Semanteon Capital Management LP bought a new position in shares of Atlassian during the 4th quarter worth approximately $1,414,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Atlassian by 164.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 585 shares of the technology company's stock worth $142,000 after acquiring an additional 364 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on TEAM shares. Mizuho lifted their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of Atlassian in a report on Friday, January 31st. Piper Sandler increased their price target on shares of Atlassian from $310.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Oppenheimer boosted their price objective on Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Finally, StockNews.com lowered Atlassian from a "buy" rating to a "hold" rating in a research note on Monday. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $308.73.

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Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $254.95, for a total value of $2,026,342.60. Following the completion of the transaction, the chief executive officer now owns 460,984 shares of the company's stock, valued at $117,527,870.80. This represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 sale, the president now owns 210,471 shares in the company, valued at approximately $54,690,889.35. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 270,981 shares of company stock worth $71,914,254 over the last quarter. Corporate insiders own 38.55% of the company's stock.

Atlassian Price Performance

Shares of TEAM stock traded down $10.68 on Friday, hitting $187.67. 3,206,572 shares of the company's stock were exchanged, compared to its average volume of 2,002,471. The company has a 50 day moving average of $265.59 and a 200 day moving average of $239.42. The stock has a market cap of $49.17 billion, a P/E ratio of -140.05 and a beta of 1.07. 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 12 month low of $135.29 and a 12 month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its 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%. On average, equities research analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

About Atlassian

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.