Lewis Asset Management LLC Has $1.71 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

Lewis Asset Management LLC lessened its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,036 shares of the technology company’s stock after selling 402 shares during the quarter. Atlassian comprises approximately 1.3% of Lewis Asset Management LLC’s holdings, making the stock its 18th largest position. Lewis Asset Management LLC’s holdings in Atlassian were worth $1,712,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Baillie Gifford & Co. boosted its stake in shares of Atlassian by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after acquiring an additional 78,454 shares in the last quarter. State Street Corp boosted its stake in shares of Atlassian by 0.3% during the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after acquiring an additional 8,957 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Atlassian by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after purchasing an additional 131,621 shares during the period. FMR LLC boosted its stake in Atlassian by 7.4% during the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after purchasing an additional 150,237 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Atlassian by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock valued at $340,453,000 after purchasing an additional 57,911 shares during the period. Institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TEAM shares. UBS Group increased their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Robert W. Baird increased their target price on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Raymond James increased their target price on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley increased their target price on Atlassian from $259.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Wells Fargo & Company raised their price objective on Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and sixteen 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 price target of $273.19.

Atlassian Trading Down 1.2 %

TEAM stock opened at $271.33 on Thursday. The business has a fifty day moving average price of $259.32 and a 200 day moving average price of $206.76. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97. The stock has a market capitalization of $70.66 billion, a price-to-earnings ratio of -178.51 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm posted ($0.07) EPS. The business’s revenue was up 21.5% on a year-over-year basis. Analysts expect that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Insider Activity at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $219.07, for a total transaction of $1,741,168.36. Following the completion of the sale, the director now directly owns 309,972 shares of the company’s stock, valued at $67,905,566.04. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 4,560 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $1,028,052.00. Following the sale, the president now directly owns 224,436 shares of the company’s stock, valued at $50,599,096.20. This represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 264,240 shares of company stock valued at $66,529,872 in the last three months. Corporate insiders own 38.55% 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.