Lecap Asset Management Ltd. Invests $585,000 in Atlassian Co. (NASDAQ:TEAM)

Lecap Asset Management Ltd. acquired a new stake in shares of Atlassian Co. (NASDAQ:TEAM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,405 shares of the technology company’s stock, valued at approximately $585,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Fairvoy Private Wealth LLC bought a new position in shares of Atlassian during the fourth quarter valued at approximately $779,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Atlassian by 18.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,198 shares of the technology company’s stock worth $3,699,000 after buying an additional 2,400 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Atlassian by 2.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 376,765 shares of the technology company’s stock worth $91,697,000 after buying an additional 10,511 shares during the period. Bleakley Financial Group LLC lifted its stake in Atlassian by 37.8% in the fourth quarter. Bleakley Financial Group LLC now owns 3,193 shares of the technology company’s stock valued at $777,000 after buying an additional 876 shares during the last quarter. Finally, Choreo LLC boosted its holdings in shares of Atlassian by 7.7% during the fourth quarter. Choreo LLC now owns 10,207 shares of the technology company’s stock valued at $2,504,000 after acquiring an additional 734 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Activity

In related news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $315.69, for a total transaction of $2,509,104.12. Following the transaction, the director now directly owns 278,180 shares of the company’s stock, valued at approximately $87,818,644.20. The trade was a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the sale, the chief executive officer now owns 429,192 shares of the company’s stock, valued at $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 265,438 shares of company stock worth $70,024,411 over the last quarter. Corporate insiders own 38.55% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $314.28 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $324.37. The business has a fifty day simple moving average of $264.90 and a 200-day simple moving average of $211.90.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Mizuho raised their price target on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Cantor Fitzgerald raised their target price on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group boosted their price target on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

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.