Atlassian Co. (NASDAQ:TEAM) Stock Holdings Cut by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 25.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 103,564 shares of the technology company's stock after selling 35,845 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Atlassian were worth $25,205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TEAM. Avion Wealth grew its position in Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after acquiring an additional 157 shares during the period. Assetmark Inc. grew its holdings in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after purchasing an additional 41 shares during the period. Mainstream Capital Management LLC acquired a new stake in Atlassian during the 4th quarter worth approximately $49,000. True Wealth Design LLC raised its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock valued at $37,000 after buying an additional 231 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in Atlassian during the fourth quarter valued at approximately $56,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Atlassian from $315.00 to $370.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. William Blair reiterated an "outperform" rating on shares of Atlassian in a report on Friday, January 31st. BMO Capital Markets upgraded Atlassian from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Barclays upped their target price on Atlassian from $275.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Canaccord Genuity Group boosted their price target on Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and a consensus target price of $319.71.

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Atlassian Stock Performance

Shares of NASDAQ TEAM traded down $18.44 during trading on Thursday, reaching $208.00. The stock had a trading volume of 4,233,732 shares, compared to its average volume of 1,936,372. The firm's 50 day moving average price is $274.08 and its two-hundred day moving average price is $233.34. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The stock has a market cap of $54.50 billion, a PE ratio of -155.22 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates 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, research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $218.05, for a total value of $1,733,061.40. Following the sale, the director now owns 119,220 shares of the company's stock, valued at approximately $25,995,921. This trade represents a 6.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 1,723 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total value of $526,962.32. Following the transaction, the president now owns 199,934 shares of the company's stock, valued at $61,147,814.56. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 272,501 shares of company stock valued at $74,167,124 over the last quarter. Insiders own 38.55% of the company's stock.

Atlassian Company Profile

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.