Steward Partners Investment Advisory LLC Boosts Holdings in Atlassian Co. (NASDAQ:TEAM)

Steward Partners Investment Advisory LLC boosted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,252 shares of the technology company’s stock after acquiring an additional 88 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Atlassian were worth $305,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. grew its stake in shares of Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after acquiring an additional 617,566 shares during the period. Two Sigma Advisers LP increased its position in Atlassian by 122.0% in the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after purchasing an additional 551,500 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in Atlassian in the third quarter worth $57,149,000. Parnassus Investments LLC increased its position in Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after purchasing an additional 245,286 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake 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 acquiring an additional 226,246 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Atlassian Stock Down 8.1 %

Shares of TEAM opened at $208.00 on Friday. The firm has a market cap of $54.50 billion, a P/E ratio of -155.22 and a beta of 0.91. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company’s 50-day moving average price is $274.08 and its 200 day moving average price is $233.34. 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 (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (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, sell-side analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Joseph Leo Binz sold 2,587 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.09, for a total value of $807,376.83. Following the completion of the sale, the chief financial officer now directly owns 169,342 shares of the company’s stock, valued at approximately $52,849,944.78. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $227.55, for a total value of $1,808,567.40. Following the sale, the chief executive officer now directly owns 103,324 shares of the company’s stock, valued at approximately $23,511,376.20. This represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 272,501 shares of company stock worth $74,167,124. Company insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TEAM shares. Cantor Fitzgerald increased their target price on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. KeyCorp raised their price target on shares of Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. JMP Securities reiterated a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Oppenheimer raised their price target on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, Macquarie lifted their target price on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and an average price target of $319.71.

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.