Atlassian Co. (NASDAQ:TEAM) Stake Boosted by L & S Advisors Inc

L & S Advisors Inc grew its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 24.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,518 shares of the technology company’s stock after purchasing an additional 1,889 shares during the quarter. L & S Advisors Inc’s holdings in Atlassian were worth $1,684,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Edgestream Partners L.P. grew its stake in shares of Atlassian by 53.6% in the second quarter. Edgestream Partners L.P. now owns 22,317 shares of the technology company’s stock worth $3,947,000 after purchasing an additional 7,787 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Atlassian by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 150,393 shares of the technology company’s stock valued at $26,597,000 after buying an additional 5,878 shares in the last quarter. Angeles Investment Advisors LLC grew its position in Atlassian by 19.9% in the 2nd quarter. Angeles Investment Advisors LLC now owns 3,164 shares of the technology company’s stock valued at $560,000 after buying an additional 526 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new position in Atlassian during the 2nd quarter valued at about $140,000. Finally, J.W. Cole Advisors Inc. bought a new stake in shares of Atlassian during the 2nd quarter worth about $281,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of research analyst reports. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and raised their price objective for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Scotiabank decreased their target price on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Barclays dropped their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Finally, Morgan Stanley reduced their price objective on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $217.69.

Atlassian Trading Down 5.6 %

NASDAQ TEAM opened at $155.82 on Wednesday. The firm’s 50 day moving average price is $162.94 and its two-hundred day moving average price is $176.05. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The stock has a market cap of $40.56 billion, a price-to-earnings ratio of -247.33 and a beta of 0.73.

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

Insider Activity

In related news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the completion of the sale, the chief executive officer now directly owns 294,076 shares in the company, valued at $41,329,441.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, President Anutthara Bharadwaj sold 760 shares of the firm’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 of the company’s stock, valued at approximately $26,693,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total value of $1,117,011.92. Following the sale, the chief executive officer now owns 294,076 shares of the company’s stock, valued at $41,329,441.04. The disclosure for this sale can be found here. Insiders have sold 240,159 shares of company stock worth $40,255,831 in the last 90 days. Company insiders own 40.48% of the company’s stock.

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.