Atlassian Co. (NASDAQ:TEAM) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership cut its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,884,585 shares of the technology company's stock after selling 149,150 shares during the period. Atlassian comprises about 1.1% of Artisan Partners Limited Partnership's holdings, making the stock its 24th largest position. Artisan Partners Limited Partnership owned 1.10% of Atlassian worth $702,050,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in Atlassian in the third quarter valued at approximately $606,000. Fulton Bank N.A. purchased a new position in shares of Atlassian in the 4th quarter valued at $447,000. Paloma Partners Management Co purchased a new position in shares of Atlassian in the 3rd quarter valued at $1,588,000. Allworth Financial LP raised its stake in Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after acquiring an additional 47 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Atlassian by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 583,579 shares of the technology company's stock valued at $92,678,000 after acquiring an additional 12,422 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley lifted their price target on Atlassian from $315.00 to $370.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. StockNews.com upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. UBS Group raised their price objective on shares of Atlassian from $275.00 to $330.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Raymond James reaffirmed an "outperform" rating and issued a $330.00 target price (up from $250.00) on shares of Atlassian in a 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 company a "buy" rating in a research report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $314.50.

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Atlassian Trading Down 3.7 %

TEAM traded down $8.08 on Monday, reaching $209.91. 694,721 shares of the company's stock were exchanged, compared to its average volume of 1,971,825. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company's 50 day moving average is $269.28 and its 200-day moving average is $239.11. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $55.00 billion, a price-to-earnings ratio of -156.68 and a beta of 0.91.

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

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $216.90, for a total value of $1,723,921.20. Following the completion of the transaction, the chief executive officer now owns 71,532 shares of the company's stock, valued at approximately $15,515,290.80. This represents a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Gene Liu sold 568 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.08, for a total value of $177,261.44. Following the sale, the chief accounting officer now owns 52,142 shares of the company's stock, valued at approximately $16,272,475.36. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 255,085 shares of company stock worth $68,681,246. 38.55% of the stock is currently owned by company insiders.

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.