Atlassian Co. (NASDAQ:TEAM) Stock Position Raised by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its holdings in shares of Atlassian Co. (NASDAQ:TEAMFree Report) by 40.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 789 shares of the technology company’s stock after buying an additional 229 shares during the period. EverSource Wealth Advisors LLC’s holdings in Atlassian were worth $192,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. State Street Corp grew its position in shares of Atlassian by 0.3% during the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after buying an additional 8,957 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Atlassian by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after buying an additional 131,621 shares during the last quarter. FMR LLC grew its position in shares of Atlassian by 7.4% during the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after buying an additional 150,237 shares during the last quarter. Geode Capital Management LLC boosted its stake in Atlassian by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock valued at $340,453,000 after purchasing an additional 57,911 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Atlassian by 5.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,210,351 shares of the technology company’s stock valued at $192,216,000 after purchasing an additional 58,536 shares during the period. Institutional investors own 94.45% of the company’s stock.

Insider Activity

In related news, CFO Joseph Leo Binz sold 2,587 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $312.09, for a total value of $807,376.83. Following the transaction, the chief financial officer now directly owns 169,342 shares in the company, valued at approximately $52,849,944.78. This trade represents a 1.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $227.55, for a total transaction of $1,808,567.40. Following the completion of the transaction, the chief executive officer now owns 103,324 shares in the company, valued at $23,511,376.20. The trade was a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 264,553 shares of company stock worth $71,956,546. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Up 5.0 %

TEAM stock opened at $218.44 on Monday. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a market cap of $57.23 billion, a price-to-earnings ratio of -163.01 and a beta of 0.91. The company has a 50 day moving average of $273.44 and a two-hundred day moving average of $234.71.

Atlassian (NASDAQ:TEAMGet Free Report) last released its 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, equities analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Cantor Fitzgerald boosted 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. Citigroup boosted their target price on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Morgan Stanley boosted their target price on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company boosted their target price on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and a consensus target price of $319.71.

View Our Latest Research Report on Atlassian

About Atlassian

(Free Report)

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.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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