Atlassian Co. (NASDAQ:TEAM) Shares Bought by Biondo Investment Advisors LLC

Biondo Investment Advisors LLC raised its holdings in Atlassian Co. (NASDAQ:TEAM) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,372 shares of the technology company’s stock after purchasing an additional 440 shares during the period. Biondo Investment Advisors LLC’s holdings in Atlassian were worth $8,122,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TEAM. JPMorgan Chase & Co. grew its position in shares of Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares during the period. Norges Bank purchased a new position in Atlassian in the 4th quarter valued at about $296,697,000. Point72 Asset Management L.P. boosted its holdings 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 buying an additional 617,566 shares during the last quarter. Two Sigma Advisers LP increased its stake in Atlassian by 122.0% during the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after buying an additional 551,500 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Atlassian by 12,047.2% during 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 last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Stephens assumed coverage on shares of Atlassian in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $255.00 price target on the stock. KeyCorp raised their target price on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, JMP Securities restated a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $316.77.

Atlassian Price Performance

TEAM stock opened at $217.99 on Friday. The business’s fifty day moving average price is $269.28 and its 200 day moving average price is $238.07. 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 $57.11 billion, a PE ratio of -162.68 and a beta of 0.91. 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 posted 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, sell-side analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Insider Transactions at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $253.01, for a total value of $2,010,923.48. Following the sale, the director now directly owns 389,452 shares of the company’s stock, valued at approximately $98,535,250.52. This represents a 2.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction on Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the sale, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at approximately $104,529,711.60. This trade represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 263,033 shares of company stock valued at $70,644,164. 38.55% of the stock is currently owned by company insiders.

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.