Lazard Asset Management LLC Boosts Stake in Atlassian Co. (NASDAQ:TEAM)

Lazard Asset Management LLC boosted its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,457 shares of the technology company's stock after buying an additional 1,280 shares during the period. Lazard Asset Management LLC's holdings in Atlassian were worth $3,761,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new position in Atlassian in the fourth quarter worth $27,000. Colonial Trust Co SC grew its holdings in shares of Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after buying an additional 69 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Atlassian during the fourth quarter worth about $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Atlassian during the fourth quarter valued at approximately $39,000. Finally, Avion Wealth boosted its position in Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after purchasing an additional 157 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Atlassian Price Performance

NASDAQ:TEAM traded up $0.02 during trading hours on Tuesday, hitting $214.49. 1,779,847 shares of the company's stock traded hands, compared to its average volume of 2,101,279. The firm has a market cap of $56.30 billion, a P/E ratio of -160.07 and a beta of 1.06. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The business's fifty day simple moving average is $213.39 and its two-hundred day simple moving average is $247.54. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The company's revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 earnings per share. On average, research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Baird R W upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. StockNews.com cut Atlassian from a "buy" rating to a "hold" rating in a report on Monday, March 31st. KeyCorp reduced their price target on Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Oppenheimer upped their target price on Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Finally, Barclays lowered their price objective on Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $285.29.

Insider Activity at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $214.92, for a total value of $1,708,184.16. Following the transaction, the director now directly owns 103,324 shares of the company's stock, valued at approximately $22,206,394.08. This represents a 7.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 1,723 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total transaction of $526,962.32. Following the sale, the president now owns 199,934 shares of the company's stock, valued at approximately $61,147,814.56. This represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 283,197 shares of company stock worth $63,707,532 in the last 90 days. Company 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.