Atlassian Co. (NASDAQ:TEAM) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. lessened its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,121,059 shares of the technology company's stock after selling 392,980 shares during the quarter. Atlassian accounts for 1.5% of Baillie Gifford & Co.'s portfolio, making the stock its 18th largest position. Baillie Gifford & Co. owned approximately 3.12% of Atlassian worth $1,976,503,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in shares of Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after buying an additional 47 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock valued at $71,000 after buying an additional 54 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in shares of Atlassian by 1.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company's stock valued at $963,000 after buying an additional 59 shares during the period. Legacy Wealth Asset Management LLC lifted its holdings in shares of Atlassian by 2.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company's stock valued at $544,000 after buying an additional 70 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company's stock valued at $69,000 after buying an additional 82 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TEAM shares. Citigroup boosted their price objective on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a report on Friday, January 17th. Macquarie boosted their price objective on Atlassian from $290.00 to $317.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Wells Fargo & Company upped their price target on Atlassian from $350.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Oppenheimer upped their price target on Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Finally, William Blair reaffirmed an "outperform" rating on shares of Atlassian in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $319.71.

Atlassian Trading Down 1.7 %

Atlassian stock traded down $5.23 during mid-day trading on Thursday, hitting $298.49. The company's stock had a trading volume of 1,738,651 shares, compared to its average volume of 2,066,656. The firm has a market capitalization of $78.20 billion, a PE ratio of -222.75 and a beta of 0.87. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock's fifty day moving average is $272.83 and its two-hundred day moving average is $221.70.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate 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, analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Insider Buying and Selling

In other Atlassian news, CAO Gene Liu sold 779 shares of the company's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the transaction, the chief accounting officer now directly owns 52,710 shares in the company, valued at $16,867,727.10. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $261.73, for a total value of $2,080,230.04. Following the transaction, the chief executive officer now owns 174,856 shares in the company, valued at $45,765,060.88. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 275,501 shares of company stock worth $75,215,542. Company insiders own 38.55% of the company's stock.

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.