Los Angeles Capital Management LLC Grows Holdings in Atlassian Co. (NASDAQ:TEAM)

Los Angeles Capital Management LLC grew its position in shares of Atlassian Co. (NASDAQ:TEAM) by 12,047.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 228,124 shares of the technology company’s stock after buying an additional 226,246 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Atlassian were worth $55,521,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Avion Wealth raised its position in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after buying an additional 157 shares during the last quarter. True Wealth Design LLC raised its position in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the last quarter. Kestra Investment Management LLC purchased a new position in Atlassian during the 4th quarter worth $56,000. GAMMA Investing LLC raised its position in Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after buying an additional 54 shares during the last quarter. Finally, Reston Wealth Management LLC purchased a new position in Atlassian during the 3rd quarter worth $48,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction that occurred on Friday, January 10th. The shares were 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 owns 429,192 shares in the company, valued at $104,529,711.60. This trade represents a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $265.96, for a total transaction of $2,113,850.08. Following the sale, the director now directly owns 158,960 shares of the company’s stock, valued at $42,277,001.60. The trade was a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,501 shares of company stock worth $75,480,290 over the last 90 days. Company insiders own 38.55% of the company’s stock.

Atlassian Trading Down 0.7 %

NASDAQ TEAM opened at $284.06 on Tuesday. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company’s 50 day moving average price is $273.10 and its 200 day moving average price is $224.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $74.42 billion, a price-to-earnings ratio of -211.98 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results 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 predict that Atlassian Co. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TEAM shares. Citigroup increased their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. William Blair reiterated an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Wells Fargo & Company increased their price target on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Oppenheimer increased their price target on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Finally, Scotiabank increased their price objective on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

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.