Lyell Wealth Management LP Has $4.68 Million Position in Atlassian Co. (NASDAQ:TEAM)

Lyell Wealth Management LP lifted its position in shares of Atlassian Co. (NASDAQ:TEAM) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,683 shares of the technology company’s stock after buying an additional 1,276 shares during the period. Lyell Wealth Management LP’s holdings in Atlassian were worth $4,682,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Graypoint LLC boosted its position in Atlassian by 2.4% during the fourth quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock valued at $424,000 after purchasing an additional 42 shares during the last quarter. Legacy Wealth Asset Management LLC boosted its position in Atlassian by 1.4% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock valued at $736,000 after purchasing an additional 43 shares during the last quarter. Park National Corp OH boosted its position in Atlassian by 3.5% during the fourth quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock valued at $342,000 after purchasing an additional 48 shares during the last quarter. UMB Bank n.a. raised its stake in Atlassian by 5.7% in the fourth quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock valued at $248,000 after buying an additional 56 shares during the period. Finally, Carmel Capital Partners LLC raised its stake in Atlassian by 28.5% in the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after buying an additional 57 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TEAM has been the topic of several research analyst reports. The Goldman Sachs Group upped their price objective on Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Truist Financial upped their price objective on Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a research note on Tuesday, January 16th. UBS Group dropped their price objective on Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Wells Fargo & Company upped their price objective on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Finally, StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $224.25.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 4,139 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $881,068.93. Following the transaction, the president now owns 167,535 shares in the company, valued at approximately $35,663,175.45. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Atlassian news, President Anutthara Bharadwaj sold 4,139 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $881,068.93. Following the sale, the president now owns 167,535 shares of the company’s stock, valued at approximately $35,663,175.45. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $253.53, for a total value of $2,089,340.73. Following the completion of the sale, the chief executive officer now directly owns 346,122 shares in the company, valued at approximately $87,752,310.66. The disclosure for this sale can be found here. Insiders have sold a total of 300,450 shares of company stock worth $62,114,072 in the last 90 days. Company insiders own 40.48% of the company’s stock.

Atlassian Stock Performance

Shares of NASDAQ TEAM traded down $0.43 during trading hours on Wednesday, reaching $199.01. 830,602 shares of the stock were exchanged, compared to its average volume of 1,683,605. The stock’s fifty day simple moving average is $200.84 and its 200 day simple moving average is $206.75. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $51.62 billion, a price-to-earnings ratio of -133.56 and a beta of 0.63.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Sell-side analysts predict that Atlassian Co. will post -0.4 EPS for the current year.

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.