Bessemer Group Inc. Lowers Position in Atlassian Co. (NASDAQ:TEAM)

Bessemer Group Inc. decreased its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 306,093 shares of the technology company's stock after selling 4,507 shares during the period. Bessemer Group Inc. owned 0.12% of Atlassian worth $74,498,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Atlassian during the third quarter valued at approximately $606,000. Fulton Bank N.A. bought a new position in Atlassian in the 4th quarter valued at $447,000. Allworth Financial LP increased its position in shares of Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after purchasing an additional 47 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Atlassian by 20.1% during the 4th quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company's stock worth $7,458,000 after purchasing an additional 5,088 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Atlassian by 61.4% in the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company's stock worth $1,710,000 after buying an additional 4,099 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Atlassian Trading Up 0.2 %

NASDAQ:TEAM traded up $0.34 during trading hours on Friday, reaching $198.37. The company's stock had a trading volume of 2,003,551 shares, compared to its average volume of 2,039,036. 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 firm has a market capitalization of $51.97 billion, a price-to-earnings ratio of -148.04 and a beta of 1.07. The firm has a 50-day simple moving average of $251.13 and a 200-day simple moving average of $241.25. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00.

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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 return on equity of 17.37% and a negative net margin of 7.22%. Research analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Jefferies Financial Group lowered their price objective on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. KeyCorp lowered their price target on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday. UBS Group dropped their price objective on Atlassian from $330.00 to $230.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 1st. William Blair reissued an "outperform" rating on shares of Atlassian in a research report on Friday, January 31st. Finally, Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and dropped their price target for the company from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus price target of $297.50.

Insider Buying and Selling at Atlassian

In related news, CAO Gene Liu sold 568 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $312.08, for a total value of $177,261.44. Following the sale, the chief accounting officer now directly owns 52,142 shares of the company's stock, valued at $16,272,475.36. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $251.20, for a total value of $1,996,537.60. Following the transaction, the chief executive officer now directly owns 405,348 shares of the company's stock, valued at $101,823,417.60. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 263,033 shares of company stock worth $68,608,284. 38.55% of the stock is currently owned by 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.