Linden Thomas Advisory Services LLC Acquires 650 Shares of Atlassian Co. (NASDAQ:TEAM)

Linden Thomas Advisory Services LLC grew its holdings in Atlassian Co. (NASDAQ:TEAM) by 7.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,141 shares of the technology company’s stock after buying an additional 650 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Atlassian were worth $2,225,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after acquiring an additional 54 shares during the period. Legacy Wealth Asset Management LLC lifted its position in Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after purchasing an additional 70 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 82 shares during the period. Commerce Bank grew its holdings in shares of Atlassian by 1.8% in the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after purchasing an additional 90 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Atlassian by 4.8% in the third quarter. Signaturefd LLC now owns 2,411 shares of the technology company’s stock worth $383,000 after purchasing an additional 111 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on TEAM. UBS Group increased their price target on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Cantor Fitzgerald initiated coverage on Atlassian in a research note on Friday, January 17th. They issued a “neutral” rating and a $264.00 target price on the stock. Oppenheimer upped their price target on Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Robert W. Baird lifted their price objective on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company boosted their price target on shares of Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus target price of $273.19.

Atlassian Stock Performance

TEAM stock opened at $264.81 on Friday. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $287.97. The stock’s 50 day simple moving average is $257.68 and its 200 day simple moving average is $204.62. The stock has a market capitalization of $68.97 billion, a PE ratio of -174.22 and a beta of 0.83. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business earned ($0.07) EPS. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, research analysts forecast that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 4,560 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the completion of the sale, the president now owns 224,436 shares of the company’s stock, valued at $50,599,096.20. This represents a 1.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $188.64, for a total transaction of $1,499,310.72. Following the completion of the transaction, the chief executive officer now owns 349,712 shares in the company, valued at $65,969,671.68. This trade represents a 2.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 272,188 shares of company stock worth $67,421,558. 38.55% of the stock is owned by insiders.

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.