Atlassian Co. (NASDAQ:TEAM) Shares Sold by Fmr LLC

FMR LLC lowered its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 41.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,273,554 shares of the technology company's stock after selling 909,426 shares during the quarter. FMR LLC owned approximately 0.49% of Atlassian worth $309,958,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its position in shares of Atlassian by 99.8% during the 4th quarter. Federated Hermes Inc. now owns 1,998 shares of the technology company's stock worth $486,000 after purchasing an additional 998 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co lifted its holdings in Atlassian by 20.0% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 60,000 shares of the technology company's stock worth $14,603,000 after buying an additional 10,000 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Atlassian by 54.2% during the 4th quarter. Russell Investments Group Ltd. now owns 252,593 shares of the technology company's stock worth $61,621,000 after buying an additional 88,742 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Atlassian by 5.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 344,596 shares of the technology company's stock valued at $83,868,000 after acquiring an additional 17,187 shares during the last quarter. Finally, Sit Investment Associates Inc. increased its holdings in shares of Atlassian by 4.5% in the 4th quarter. Sit Investment Associates Inc. now owns 56,702 shares of the technology company's stock valued at $13,800,000 after acquiring an additional 2,433 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

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Analyst Ratings Changes

A number of equities analysts recently issued reports on TEAM shares. UBS Group lowered their price target on Atlassian from $330.00 to $230.00 and set a "neutral" rating for the company in a report on Tuesday, April 1st. Robert W. Baird upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and lowered their target price for the company from $320.00 to $255.00 in a report on Monday. BMO Capital Markets dropped their target price on shares of Atlassian from $360.00 to $295.00 and set an "outperform" rating on the stock in a research report on Thursday. Oppenheimer boosted their price target on shares of Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Finally, KeyCorp dropped their price objective on Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday. Seven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $300.00.

Atlassian Price Performance

Atlassian stock traded up $2.62 during midday trading on Monday, reaching $200.99. The company's stock had a trading volume of 2,031,297 shares, compared to its average volume of 2,041,680. 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 Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm has a market capitalization of $52.66 billion, a PE ratio of -149.99 and a beta of 1.07. The stock's 50 day simple moving average is $251.13 and its 200 day simple moving average is $241.80.

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 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, equities research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $251.20, for a total value of $1,996,537.60. Following the sale, the chief executive officer now owns 405,348 shares of the company's stock, valued at approximately $101,823,417.60. This represents a 1.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 779 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the transaction, the chief accounting officer now directly owns 52,710 shares of the company's stock, valued at $16,867,727.10. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 263,033 shares of company stock valued at $68,282,575. 38.55% of the stock is owned by insiders.

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.