Lecap Asset Management Ltd. Buys Shares of 2,405 Atlassian Co. (NASDAQ:TEAM)

Lecap Asset Management Ltd. purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, Holdings Channel.com reports. The firm purchased 2,405 shares of the technology company’s stock, valued at approximately $585,000.

Several other institutional investors have also made changes to their positions in TEAM. GAMMA Investing LLC raised its position in Atlassian by 22.9% during the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after acquiring an additional 54 shares in the last quarter. Legacy Wealth Asset Management LLC raised its holdings in shares of Atlassian by 2.1% during the 3rd 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 in the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Atlassian by 23.2% during the 3rd 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 in the last quarter. Perigon Wealth Management LLC lifted its stake in shares of Atlassian by 2.2% in the 4th quarter. Perigon Wealth Management LLC now owns 3,789 shares of the technology company’s stock valued at $963,000 after purchasing an additional 83 shares during the last quarter. Finally, Commerce Bank boosted its holdings in 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 in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TEAM. Cantor Fitzgerald boosted their price target on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Robert W. Baird boosted their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Citigroup boosted their price objective on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Truist Financial reiterated a “buy” rating and issued a $350.00 target price (up from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 165 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total value of $40,563.60. Following the transaction, the chief accounting officer now directly owns 56,423 shares in the company, valued at $13,871,030.32. The trade was a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the sale, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at approximately $104,529,711.60. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 265,438 shares of company stock worth $70,024,411. Company insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

TEAM opened at $314.28 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.81. The firm’s fifty day moving average price is $264.90 and its two-hundred day moving average price is $211.90. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $324.37.

Atlassian (NASDAQ:TEAM) last issued its 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 net margin of 7.22% and a negative return on equity of 17.37%. On average, equities analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

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.