Atlassian Co. (NASDAQ:TEAM) Shares Bought by Connable Office Inc.

Connable Office Inc. lifted its position in shares of Atlassian Co. (NASDAQ:TEAMFree Report) by 9.6% during the fourth quarter, HoldingsChannel reports. The fund owned 7,795 shares of the technology company’s stock after acquiring an additional 680 shares during the quarter. Connable Office Inc.’s holdings in Atlassian were worth $1,854,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TEAM. Baillie Gifford & Co. raised its stake in shares of Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after buying an additional 1,511,318 shares in the last quarter. Morgan Stanley raised its position in Atlassian by 156.8% in the third quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after acquiring an additional 1,095,297 shares in the last quarter. Norges Bank acquired a new stake in Atlassian in the fourth quarter valued at $247,740,000. Brown Advisory Inc. lifted its holdings in Atlassian by 7.9% in the fourth quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company’s stock valued at $826,113,000 after acquiring an additional 255,653 shares during the period. Finally, WCM Investment Management LLC boosted its position in shares of Atlassian by 2.7% during the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock worth $2,325,490,000 after purchasing an additional 249,017 shares in the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 199 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total value of $36,665.75. Following the sale, the chief accounting officer now directly owns 45,666 shares of the company’s stock, valued at approximately $8,413,960.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CTO Rajeev Bashyam Rajan sold 445 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $175.90, for a total transaction of $78,275.50. Following the completion of the sale, the chief technology officer now directly owns 130,525 shares of the company’s stock, valued at approximately $22,959,347.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Gene Liu sold 199 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total value of $36,665.75. Following the sale, the chief accounting officer now owns 45,666 shares of the company’s stock, valued at $8,413,960.50. The disclosure for this sale can be found here. Insiders sold a total of 292,367 shares of company stock valued at $56,237,160 over the last quarter. Company insiders own 40.48% of the company’s stock.

Atlassian Trading Down 3.1 %

Shares of NASDAQ:TEAM traded down $5.32 during trading on Monday, reaching $168.86. The stock had a trading volume of 1,928,200 shares, compared to its average volume of 1,697,912. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. The stock has a market cap of $43.95 billion, a P/E ratio of -268.03 and a beta of 0.67. The business has a fifty day moving average price of $189.37 and a 200-day moving average price of $205.96. Atlassian Co. has a fifty-two week low of $156.44 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAMGet Free Report) last released its earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company earned ($0.40) EPS. Atlassian’s revenue for the quarter was up 29.9% on a year-over-year basis. As a group, analysts anticipate that Atlassian Co. will post -0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TEAM. William Blair reiterated an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. Mizuho reduced their price target on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Piper Sandler decreased their price target on Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Citigroup dropped their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Finally, KeyCorp began coverage on Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $223.22.

Check Out Our Latest Stock Report on TEAM

About Atlassian

(Free Report)

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.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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