Atlassian Co. (NASDAQ:TEAM) Shares Sold by Blair William & Co. IL

Blair William & Co. IL cut its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,467 shares of the technology company’s stock after selling 1,733 shares during the quarter. Blair William & Co. IL’s holdings in Atlassian were worth $13,256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after acquiring an additional 1,806,042 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Atlassian by 760.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after purchasing an additional 617,566 shares during the period. Two Sigma Advisers LP raised its position in Atlassian by 122.0% in the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after purchasing an additional 551,500 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Atlassian by 12,047.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock valued at $55,521,000 after buying an additional 226,246 shares during the period. Finally, Fisher Funds Management LTD acquired a new position in shares of Atlassian during the fourth quarter worth about $47,469,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Activity at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $253.01, for a total transaction of $2,010,923.48. Following the completion of the transaction, the director now directly owns 389,452 shares of the company’s stock, valued at approximately $98,535,250.52. This represents a 2.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares in the company, valued at approximately $54,690,889.35. This trade represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 263,033 shares of company stock worth $70,644,164 in the last three months. Insiders own 38.55% of the company’s stock.

Atlassian Price Performance

Shares of TEAM opened at $217.99 on Friday. The company has a market capitalization of $57.11 billion, a price-to-earnings ratio of -162.68 and a beta of 0.91. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm has a 50-day simple moving average of $269.28 and a 200-day simple moving average of $238.07. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. KeyCorp lifted their price target on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Cantor Fitzgerald lifted their price objective on shares of Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Canaccord Genuity Group increased their target price on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Finally, Scotiabank raised their target price on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $316.77.

About Atlassian

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.