Louisiana State Employees Retirement System Purchases New Holdings in Atlassian Co. (NASDAQ:TEAM)

Louisiana State Employees Retirement System bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,300 shares of the technology company's stock, valued at approximately $2,926,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in Atlassian in the third quarter worth $26,000. Meeder Asset Management Inc. increased its stake in shares of Atlassian by 151.5% during the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company's stock valued at $31,000 after buying an additional 147 shares during the period. Tyler Stone Wealth Management purchased a new position in shares of Atlassian during the second quarter valued at $34,000. Quarry LP purchased a new position in shares of Atlassian during the second quarter valued at $44,000. Finally, Carolinas Wealth Consulting LLC grew its stake in Atlassian by 1,365.0% in the first quarter. Carolinas Wealth Consulting LLC now owns 293 shares of the technology company's stock valued at $50,000 after purchasing an additional 273 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors.

Atlassian Stock Performance

TEAM stock traded up $3.01 during trading on Tuesday, hitting $194.85. 2,376,758 shares of the company traded hands, compared to its average volume of 1,716,092. The stock's 50-day simple moving average is $203.36 and its 200 day simple moving average is $206.79. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $50.55 billion, a PE ratio of -130.77 and a beta of 0.63. Atlassian Co. has a 1 year low of $128.02 and a 1 year high of $258.69.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. On average, equities analysts expect that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 2,470 shares of the business's stock in a transaction on Friday, January 19th. The stock was sold at an average price of $240.55, for a total transaction of $594,158.50. Following the transaction, the president now owns 171,674 shares of the company's stock, valued at $41,296,180.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, President Anutthara Bharadwaj sold 2,470 shares of the company's stock in a transaction on Friday, January 19th. The stock was sold at an average price of $240.55, for a total value of $594,158.50. Following the transaction, the president now owns 171,674 shares of the company's stock, valued at approximately $41,296,180.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 872 shares of the company's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $185,622.64. Following the completion of the transaction, the chief technology officer now directly owns 142,103 shares in the company, valued at approximately $30,249,465.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,159 shares of company stock valued at $62,026,607. Insiders own 40.48% of the company's stock.

Analyst Upgrades and Downgrades

TEAM has been the topic of several analyst reports. William Blair reiterated an "outperform" rating on shares of Atlassian in a research note on Friday, February 2nd. KeyCorp initiated coverage on Atlassian in a research note on Tuesday, March 19th. They issued a "sector weight" rating on the stock. StockNews.com lowered Atlassian from a "buy" rating to a "hold" rating in a research note on Tuesday, March 19th. Wells Fargo & Company lifted their target price on Atlassian from $275.00 to $285.00 and gave the company an "overweight" rating in a research note on Wednesday, January 24th. Finally, Barclays raised Atlassian from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $235.00 to $275.00 in a report on Thursday, April 11th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Atlassian presently has a consensus rating of "Hold" and an average target price of $224.25.

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.