91,998 Shares in Atlassian Co. (NASDAQ:TEAM) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 91,998 shares of the technology company's stock, valued at approximately $22,390,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of TEAM. Point72 Asset Management L.P. lifted its stake in shares of Atlassian by 760.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company's stock valued at $110,972,000 after acquiring an additional 617,566 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Atlassian by 122.0% in the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company's stock valued at $159,382,000 after acquiring an additional 551,500 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Atlassian in the 3rd quarter valued at about $57,149,000. Parnassus Investments LLC lifted its stake in shares of Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company's stock valued at $51,016,000 after acquiring an additional 245,286 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Atlassian by 12,047.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company's stock valued at $55,521,000 after acquiring an additional 226,246 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Analysts Set New Price Targets

TEAM has been the subject of a number of recent analyst reports. Scotiabank upped their price target on Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a research report on Friday, January 31st. Oppenheimer upped their price target on Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. The Goldman Sachs Group upped their price target on Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Mizuho upped their price target on Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Finally, StockNews.com raised Atlassian from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $319.71.

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Atlassian Stock Down 0.7 %

TEAM traded down $1.53 during trading on Tuesday, hitting $219.45. 2,419,040 shares of the company's stock traded hands, compared to its average volume of 1,938,063. The company's 50 day simple moving average is $272.77 and its two-hundred day simple moving average is $235.08. The company has a current ratio of 1.24, a quick 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 stock has a market capitalization of $57.50 billion, a price-to-earnings ratio of -163.77 and a beta of 0.91.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results 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%. Analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $258.33, for a total transaction of $2,053,206.84. Following the transaction, the director now directly owns 63,584 shares of the company's stock, valued at $16,425,654.72. This represents a 11.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $243.55, for a total value of $3,871,470.80. Following the transaction, the chief executive officer now directly owns 429,192 shares in the company, valued at $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 264,553 shares of company stock worth $71,956,546. 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.