Envestnet Portfolio Solutions Inc. Raises Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 9.4% in the 4th quarter, Holdings Channel reports. The firm owned 10,022 shares of the technology company’s stock after acquiring an additional 865 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Atlassian were worth $2,439,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TEAM. Point72 Asset Management L.P. grew its holdings in shares of Atlassian by 760.5% during the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after purchasing an additional 617,566 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of Atlassian by 122.0% during the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after purchasing an additional 551,500 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in Atlassian in the 3rd quarter worth approximately $57,149,000. Los Angeles Capital Management LLC lifted its position in Atlassian by 12,047.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock worth $55,521,000 after buying an additional 226,246 shares during the last quarter. Finally, Fisher Funds Management LTD bought a new stake in Atlassian in the 4th quarter worth approximately $47,469,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Price Performance

Shares of TEAM stock opened at $226.16 on Friday. The stock has a market cap of $59.25 billion, a price-to-earnings ratio of -168.77 and a beta of 0.91. The business’s fifty day moving average is $271.54 and its 200 day moving average is $235.36. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

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%. Research analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 1,520 shares of the 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. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Gene Liu sold 779 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the sale, the chief accounting officer now directly owns 52,710 shares in the company, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 255,085 shares of company stock valued at $69,211,537 over the last ninety days. Company insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Barclays boosted their target price on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Cantor Fitzgerald boosted their target price on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. The Goldman Sachs Group boosted their target price on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Jefferies Financial Group boosted their target price on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $316.77.

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.