LPL Financial LLC Boosts Position in Atlassian Corporation PLC (NASDAQ:TEAM)

LPL Financial LLC grew its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 28.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,397 shares of the technology company’s stock after buying an additional 14,863 shares during the period. LPL Financial LLC’s holdings in Atlassian were worth $14,090,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Atlassian by 4.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,261 shares of the technology company’s stock valued at $21,064,000 after buying an additional 3,987 shares during the period. Bearing Point Capital LLC purchased a new stake in Atlassian in the first quarter worth $340,000. HB Wealth Management LLC grew its stake in Atlassian by 422.6% in the first quarter. HB Wealth Management LLC now owns 7,850 shares of the technology company’s stock worth $1,666,000 after purchasing an additional 6,348 shares during the period. Nvwm LLC purchased a new stake in Atlassian in the first quarter worth $422,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in Atlassian by 45.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 94,401 shares of the technology company’s stock worth $20,027,000 after purchasing an additional 29,402 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Baird R W raised Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. Macquarie reduced their price target on Atlassian from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Raymond James Financial reissued an “outperform” rating and issued a $300.00 target price (down from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Robert W. Baird raised Atlassian from a “neutral” rating to an “outperform” rating and dropped their target price for the stock from $320.00 to $255.00 in a report on Monday, April 14th. Finally, Wall Street Zen raised Atlassian from a “hold” rating to a “buy” rating in a research report on Sunday, June 22nd. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $274.05.

Atlassian Stock Up 0.0%

NASDAQ TEAM opened at $185.50 on Thursday. The stock’s 50-day moving average price is $200.82 and its 200-day moving average price is $227.26. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a 52 week low of $136.84 and a 52 week high of $326.00. The company has a market capitalization of $48.70 billion, a P/E ratio of -111.75 and a beta of 0.96.

Insider Activity

In related news, Director Scott Farquhar sold 7,665 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $185.43, for a total transaction of $1,421,320.95. Following the completion of the sale, the director owned 306,600 shares in the company, valued at approximately $56,852,838. This trade represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $185.43, for a total value of $1,421,320.95. Following the sale, the chief executive officer owned 306,600 shares of the company’s stock, valued at $56,852,838. This represents a 2.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 506,781 shares of company stock valued at $103,497,171 in the last quarter. 38.55% of the stock is currently owned by company 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.