Natixis Advisors LLC Has $21.46 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

Natixis Advisors LLC lessened its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 23.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121,322 shares of the technology company's stock after selling 37,934 shares during the period. Natixis Advisors LLC's holdings in Atlassian were worth $21,459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TEAM. Equitable Trust Co. raised its stake in Atlassian by 0.9% during the 2nd quarter. Equitable Trust Co. now owns 19,540 shares of the technology company's stock worth $3,456,000 after acquiring an additional 167 shares in the last quarter. Bellwether Advisors LLC acquired a new stake in shares of Atlassian in the 2nd quarter valued at about $3,868,000. nVerses Capital LLC grew its stake in Atlassian by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the technology company's stock worth $124,000 after buying an additional 300 shares during the last quarter. Banque Cantonale Vaudoise increased its position in Atlassian by 13.3% during the second quarter. Banque Cantonale Vaudoise now owns 14,294 shares of the technology company's stock worth $2,529,000 after buying an additional 1,676 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in Atlassian in the second quarter valued at approximately $36,000. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Atlassian

In related news, CEO Scott Farquhar sold 7,948 shares of the firm's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the sale, the chief executive officer now owns 294,076 shares of the company's stock, valued at approximately $41,329,441.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the completion of the transaction, the chief executive officer now directly owns 294,076 shares of the company's stock, valued at $41,329,441.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the company's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the sale, the chief technology officer now owns 128,957 shares in the company, valued at approximately $18,838,038.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 248,107 shares of company stock worth $41,432,056. Corporate insiders own 40.48% of the company's stock.

Atlassian Price Performance

NASDAQ:TEAM traded down $1.50 on Wednesday, reaching $162.30. The stock had a trading volume of 1,440,769 shares, compared to its average volume of 1,782,827. The company has a market capitalization of $42.20 billion, a P/E ratio of -257.89 and a beta of 0.73. The stock has a fifty day moving average price of $166.27 and a 200-day moving average price of $179.10. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. Atlassian's revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.21) EPS. Research analysts forecast that Atlassian Co. will post -0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of recent research reports. Mizuho cut their target price on shares of Atlassian from $225.00 to $220.00 and set an "outperform" rating on the stock in a report on Tuesday, July 16th. Truist Financial decreased their target price on shares of Atlassian from $200.00 to $160.00 and set a "hold" rating for the company in a research note on Friday, August 2nd. Piper Sandler raised Atlassian from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $200.00 to $225.00 in a research note on Tuesday, July 2nd. JMP Securities upgraded Atlassian to a "hold" rating in a research note on Friday, August 2nd. Finally, StockNews.com cut Atlassian from a "buy" rating to a "hold" rating in a research note on Friday, July 12th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $217.69.

Atlassian 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.