L & S Advisors Inc Has $1.68 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

L & S Advisors Inc boosted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 24.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 9,518 shares of the technology company’s stock after buying an additional 1,889 shares during the period. L & S Advisors Inc’s holdings in Atlassian were worth $1,684,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Atlassian by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after acquiring an additional 504,181 shares in the last quarter. Diversified Trust Co boosted its position in Atlassian by 27.6% during the first quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock worth $2,739,000 after purchasing an additional 3,035 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Atlassian by 7.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock valued at $27,723,000 after purchasing an additional 10,434 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Atlassian by 2.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock valued at $34,213,000 after purchasing an additional 3,687 shares during the last quarter. Finally, Alberta Investment Management Corp raised its position in shares of Atlassian by 16.1% in the fourth quarter. Alberta Investment Management Corp now owns 96,211 shares of the technology company’s stock valued at $22,885,000 after purchasing an additional 13,328 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlassian

In other news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $156.59, for a total value of $1,244,577.32. Following the completion of the transaction, the chief executive officer now directly owns 47,688 shares of the company’s stock, valued at approximately $7,467,463.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $156.59, for a total transaction of $1,244,577.32. Following the completion of the transaction, the chief executive officer now directly owns 47,688 shares of the company’s stock, valued at $7,467,463.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $175.00, for a total transaction of $133,000.00. Following the completion of the sale, the president now directly owns 152,534 shares in the company, valued at approximately $26,693,450. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 240,159 shares of company stock valued at $40,255,831. 40.48% of the stock is currently owned by corporate insiders.

Atlassian Stock Down 5.6 %

Shares of TEAM stock opened at $155.82 on Wednesday. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a fifty day moving average price of $162.94 and a 200 day moving average price of $176.05. The stock has a market cap of $40.56 billion, a P/E ratio of -247.33 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.21) EPS. Analysts predict that Atlassian Co. will post -0.58 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on TEAM. Truist Financial decreased their price objective on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and upped their price target for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Robert W. Baird downgraded Atlassian from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $230.00 to $175.00 in a research report on Friday, August 2nd. Scotiabank cut their price objective on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Finally, Mizuho lowered their target price on Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $217.69.

About Atlassian

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.