LPL Financial LLC Has $12.54 Million Stake in Atlassian Co. (NASDAQ:TEAM)

LPL Financial LLC raised its holdings in Atlassian Co. (NASDAQ:TEAM) by 93.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,534 shares of the technology company’s stock after buying an additional 24,891 shares during the period. LPL Financial LLC’s holdings in Atlassian were worth $12,542,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Avion Wealth raised its position 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 acquiring an additional 157 shares in the last quarter. Assetmark Inc. raised its holdings in shares of 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 purchasing an additional 41 shares during the period. Mainstream Capital Management LLC acquired a new stake in Atlassian in the 4th quarter valued at about $49,000. Kestra Investment Management LLC bought a new position in Atlassian during the fourth quarter worth about $56,000. Finally, OFI Invest Asset Management bought a new position in Atlassian during the fourth quarter worth about $63,000. 94.45% of the stock is owned by institutional investors.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $223.96 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $58.68 billion, a PE ratio of -167.13 and a beta of 1.07. The firm has a 50 day moving average of $266.94 and a 200-day moving average of $239.70. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data 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%. On average, equities research analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Gene Liu sold 568 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the transaction, the chief accounting officer now directly owns 52,142 shares in the company, valued at approximately $16,272,475.36. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the sale, the president now directly owns 210,471 shares in the company, valued at approximately $54,690,889.35. This trade represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock worth $70,144,394 in the last ninety days. 38.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TEAM has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price objective on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Jefferies Financial Group reduced their price objective on shares of Atlassian from $400.00 to $330.00 and set a “buy” rating for the company in a research report on Monday. Barclays increased their price objective on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Morgan Stanley raised their target price on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and upped their price target for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $308.73.

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.