Atlassian Co. (NASDAQ:TEAM) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 10.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,736 shares of the technology company's stock after selling 1,288 shares during the quarter. Commonwealth Equity Services LLC's holdings in Atlassian were worth $2,613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Asset Management L.P. raised its holdings in shares of 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 acquiring an additional 617,566 shares in the last quarter. Two Sigma Advisers LP raised its stake in Atlassian by 122.0% during the third 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 raised its stake in Atlassian by 12,047.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company's stock valued at $55,521,000 after purchasing an additional 226,246 shares in the last quarter. Fisher Funds Management LTD bought a new position in Atlassian during the fourth quarter valued at $47,469,000. Finally, PointState Capital LP bought a new stake in shares of Atlassian in the 3rd quarter worth about $30,566,000. Institutional investors own 94.45% of the company's stock.

Insider Buying and Selling at Atlassian

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

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Atlassian Stock Performance

Shares of NASDAQ TEAM traded down $4.65 during trading on Friday, reaching $217.99. 2,418,163 shares of the company traded hands, compared to its average volume of 1,976,725. The stock has a market cap of $57.11 billion, a P/E ratio of -162.68 and a beta of 0.91. The firm's fifty day simple moving average is $269.28 and its 200 day simple moving average is $238.07. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TEAM. Stephens began coverage on shares of Atlassian in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $255.00 target price for the company. Canaccord Genuity Group upped their target price on Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Wells Fargo & Company raised their price target on Atlassian from $350.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. UBS Group upped their price objective on Atlassian from $275.00 to $330.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, Cantor Fitzgerald lifted their target price on Atlassian from $264.00 to $304.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.