Great Lakes Advisors LLC Acquires New Shares in Atlassian Co. (NASDAQ:TEAM)

Great Lakes Advisors LLC acquired a new stake in shares of Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,987 shares of the technology company’s stock, valued at approximately $1,944,000.

Other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of Atlassian in the third quarter worth about $606,000. Fulton Bank N.A. acquired a new stake in shares of Atlassian in the fourth quarter worth about $447,000. Paloma Partners Management Co acquired a new stake in shares of Atlassian in the third quarter worth about $1,588,000. Allworth Financial LP lifted its position in shares of Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after buying an additional 47 shares during the last quarter. Finally, Parnassus Investments LLC lifted its position in shares of Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after buying an additional 245,286 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Activity

In other news, CAO Gene Liu sold 568 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.08, for a total value of $177,261.44. Following the transaction, the chief accounting officer now directly owns 52,142 shares of the company’s stock, valued at $16,272,475.36. The trade was a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the completion of the transaction, the chief executive officer now directly owns 429,192 shares in the company, valued at $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 272,501 shares of company stock worth $74,167,124. Company insiders own 38.55% of the company’s stock.

Atlassian Trading Up 5.0 %

TEAM stock opened at $218.44 on Friday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The firm has a market cap of $57.23 billion, a P/E ratio of -163.01 and a beta of 0.91. The business’s 50 day moving average is $273.44 and its 200-day moving average is $234.20. 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 released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. Equities analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TEAM. Morgan Stanley boosted their price target on Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Piper Sandler lifted their price objective on Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company lifted their price objective on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Macquarie lifted their price objective on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian 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.