Mariner LLC Has $2.44 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Mariner LLC boosted its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 19.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 10,036 shares of the technology company's stock after purchasing an additional 1,634 shares during the period. Mariner LLC's holdings in Atlassian were worth $2,443,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Massachusetts Financial Services Co. MA bought a new position in shares of Atlassian during the 4th quarter worth approximately $687,486,000. JPMorgan Chase & Co. boosted its position in Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares during the period. Invesco Ltd. boosted its position in Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after purchasing an additional 1,777,179 shares during the period. Norges Bank acquired a new position in shares of Atlassian in the fourth quarter valued at $296,697,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Atlassian in the fourth quarter valued at about $234,547,000. Institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. StockNews.com lowered shares of Atlassian from a "buy" rating to a "hold" rating in a research note on Monday, March 31st. The Goldman Sachs Group boosted their price target on Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Citigroup increased their price objective on Atlassian from $255.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Macquarie raised shares of Atlassian from a "neutral" rating to an "outperform" rating and reduced their target price for the company from $317.00 to $270.00 in a research report on Thursday, April 10th. Finally, Robert W. Baird upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and decreased their price target for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Six investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Atlassian currently has an average rating of "Moderate Buy" and a consensus target price of $297.73.

Atlassian Stock Up 3.9 %

TEAM stock opened at $200.30 on Wednesday. The firm has a 50-day moving average price of $234.84 and a 200-day moving average price of $243.17. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $52.48 billion, a P/E ratio of -149.48 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued 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 net margin of 7.22% and a negative return on equity of 17.37%. As a group, equities research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Activity at Atlassian

In other news, CAO Gene Liu sold 568 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the transaction, the chief accounting officer now owns 52,142 shares of the company's stock, valued at approximately $16,272,475.36. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Monday, January 27th. The stock was sold at an average price of $269.01, for a total transaction of $2,138,091.48. Following the transaction, the chief executive officer now owns 349,712 shares in the company, valued at approximately $94,076,025.12. This trade represents a 2.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 261,513 shares of company stock valued at $66,621,566 in the last 90 days. 38.55% of the stock is owned by corporate 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.

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