38,743 Shares in Atlassian Co. (NASDAQ:TEAM) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in Atlassian Co. (NASDAQ:TEAM) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 38,743 shares of the technology company’s stock, valued at approximately $9,429,000.

Several other hedge funds have also recently bought and sold shares of TEAM. Point72 Asset Management L.P. increased its position in Atlassian by 760.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after purchasing an additional 617,566 shares during the last quarter. Two Sigma Advisers LP increased its position in Atlassian by 122.0% in the 3rd 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 acquired a new position in Atlassian in the 3rd quarter worth about $57,149,000. Los Angeles Capital Management LLC increased its position in 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 worth $55,521,000 after purchasing an additional 226,246 shares during the last quarter. Finally, Fisher Funds Management LTD acquired a new position in Atlassian in the 4th quarter worth about $47,469,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 1,520 shares of the firm’s 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 completion of the transaction, the president now owns 210,471 shares in the company, valued at $54,690,889.35. This trade represents a 0.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $322.31, for a total value of $2,561,719.88. Following the transaction, the chief executive officer now owns 270,232 shares of the company’s stock, valued at $87,098,475.92. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,033 shares of company stock worth $71,015,177 in the last 90 days. 38.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TEAM shares. Cantor Fitzgerald upped their target price on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Oppenheimer increased their price objective on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Wells Fargo & Company increased their price objective on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Jefferies Financial Group increased their price objective on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, William Blair reissued an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $316.77.

Atlassian Price Performance

Shares of TEAM stock opened at $227.34 on Friday. The stock has a 50 day moving average of $271.24 and a two-hundred day moving average of $235.79. 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 company has a market capitalization of $59.56 billion, a P/E ratio of -169.66 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data 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 expect 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.