Hsbc Holdings PLC Sells 5,930 Shares of Atlassian Co. (NASDAQ:TEAM)

Hsbc Holdings PLC cut its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 4.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 140,896 shares of the technology company's stock after selling 5,930 shares during the quarter. Hsbc Holdings PLC owned 0.05% of Atlassian worth $34,306,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Corebridge Financial Inc. boosted its position in shares of Atlassian by 0.3% in the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock worth $2,555,000 after buying an additional 35 shares during the period. GeoWealth Management LLC lifted its holdings in Atlassian by 26.8% during the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after buying an additional 38 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Atlassian by 30.6% in 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 last quarter. 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 worth $404,000 after purchasing an additional 47 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in 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 acquiring an additional 54 shares during the period. 94.45% of the stock is owned by institutional investors.

Insider Transactions at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $185.61, for a total transaction of $1,475,228.28. Following the completion of the sale, the director now directly owns 333,816 shares of the company's stock, valued at $61,959,587.76. The trade was a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Joseph Leo Binz sold 2,587 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.09, for a total transaction of $807,376.83. Following the sale, the chief financial officer now directly owns 169,342 shares of the company's stock, valued at approximately $52,849,944.78. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 261,513 shares of company stock worth $65,866,506. Corporate insiders own 38.55% of the company's stock.

Atlassian Price Performance

NASDAQ:TEAM traded up $1.15 on Monday, reaching $229.83. The stock had a trading volume of 1,722,420 shares, compared to its average volume of 2,047,927. The company has a market capitalization of $60.22 billion, a P/E ratio of -171.51 and a beta of 1.07. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a fifty day moving average price of $227.77 and a 200-day moving average price of $244.92.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) 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%. Research analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TEAM. Citigroup upped 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 raised Atlassian from a "neutral" rating to an "outperform" rating and lowered their target price for the company from $317.00 to $270.00 in a research note on Thursday, April 10th. Jefferies Financial Group reduced their price target on Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a report on Monday, April 7th. Scotiabank lifted their price target on Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a report on Friday, January 31st. Finally, StockNews.com lowered Atlassian from a "buy" rating to a "hold" rating in a report on Monday, March 31st. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Atlassian currently has an average rating of "Moderate Buy" and a consensus price target of $301.90.

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.