Massachusetts Financial Services Co. MA Invests $687.49 Million in Atlassian Co. (NASDAQ:TEAM)

Massachusetts Financial Services Co. MA bought a new position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,824,742 shares of the technology company's stock, valued at approximately $687,486,000. Massachusetts Financial Services Co. MA owned 1.08% of Atlassian as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elwood Capital Partners LP acquired a new stake in Atlassian during the 4th quarter valued at $3,429,000. Geode Capital Management LLC increased its position in Atlassian by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock worth $528,851,000 after purchasing an additional 27,899 shares during the last quarter. HighPoint Advisor Group LLC boosted its holdings in shares of Atlassian by 7.2% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,016 shares of the technology company's stock valued at $247,000 after purchasing an additional 68 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Atlassian by 9.9% in the 4th quarter. Franklin Resources Inc. now owns 73,275 shares of the technology company's stock worth $17,834,000 after buying an additional 6,587 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG grew its holdings in shares of Atlassian by 14.1% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 7,056 shares of the technology company's stock worth $1,719,000 after purchasing an additional 870 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TEAM. Macquarie upped their price target on Atlassian from $290.00 to $317.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Jefferies Financial Group dropped their price target on Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research report on Monday. Wells Fargo & Company boosted their price objective on shares of Atlassian from $350.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Barclays lifted their target price on Atlassian from $275.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, StockNews.com lowered Atlassian from a "buy" rating to a "hold" rating in a research report on Monday, March 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $305.64.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 568 shares of the company'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 sale, the chief accounting officer now owns 52,142 shares in the company, valued at approximately $16,272,475.36. The trade was a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction on Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the sale, the chief executive officer now directly owns 429,192 shares of the company's stock, valued at approximately $104,529,711.60. This trade represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 263,033 shares of company stock worth $69,887,912. Company insiders own 38.55% of the company's stock.

Atlassian Stock Performance

Shares of Atlassian stock traded down $1.08 on Monday, reaching $186.59. The stock had a trading volume of 1,245,201 shares, compared to its average volume of 2,003,009. 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 business's 50-day moving average price is $264.05 and its two-hundred day moving average price is $240.72. The stock has a market cap of $48.89 billion, a P/E ratio of -138.22 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results 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%. On average, sell-side analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

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.