Level Four Advisory Services LLC Cuts Position in Atlassian Co. (NASDAQ:TEAM)

Level Four Advisory Services LLC lessened its position in Atlassian Co. (NASDAQ:TEAM) by 2.0% during the fourth quarter, Holdings Channel reports. The fund owned 6,548 shares of the technology company’s stock after selling 132 shares during the period. Level Four Advisory Services LLC’s holdings in Atlassian were worth $1,594,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Atlassian by 72.9% during the 4th 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 last quarter. State Street Corp boosted its stake in Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after buying an additional 8,957 shares in the last quarter. FMR LLC grew its position in Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after acquiring an additional 150,237 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Atlassian by 2.8% during the third quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock worth $340,453,000 after acquiring an additional 57,911 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Atlassian in the 4th quarter worth approximately $296,697,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on TEAM shares. Morgan Stanley increased their target price on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup raised their price objective on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Raymond James restated an “outperform” rating and set a $330.00 target price (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and a consensus target price of $316.77.

Atlassian Stock Down 2.1 %

TEAM stock opened at $217.99 on Friday. The company has a market capitalization of $57.11 billion, a price-to-earnings ratio of -162.68 and a beta of 0.91. 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 business’s 50 day moving average price is $269.28 and its two-hundred day moving average price is $238.60. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results 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 return on equity of 17.37% and a negative net margin of 7.22%. As a group, analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the sale, the president now directly owns 210,471 shares of the company’s stock, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $246.97, for a total value of $1,962,917.56. Following the transaction, the chief executive officer now owns 7,948 shares of the company’s stock, valued at $1,962,917.56. The trade was a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock worth $70,644,164 in the last three months. 38.55% of the stock is owned by corporate 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.