Natixis Boosts Holdings in Atlassian Co. (NASDAQ:TEAM)

Natixis raised its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 126.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,987 shares of the technology company's stock after acquiring an additional 5,025 shares during the period. Natixis' holdings in Atlassian were worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of Atlassian during the third quarter worth approximately $606,000. SkyView Investment Advisors LLC boosted its stake in Atlassian by 3.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,128 shares of the technology company's stock worth $656,000 after purchasing an additional 122 shares during the period. Wilmington Savings Fund Society FSB grew its position in Atlassian by 59.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,901 shares of the technology company's stock worth $461,000 after purchasing an additional 1,081 shares during the last quarter. Tidal Investments LLC increased its stake in Atlassian by 143.2% in the third quarter. Tidal Investments LLC now owns 12,605 shares of the technology company's stock valued at $2,002,000 after purchasing an additional 7,422 shares during the period. Finally, Synovus Financial Corp raised its holdings in shares of Atlassian by 26.4% in the third quarter. Synovus Financial Corp now owns 19,962 shares of the technology company's stock valued at $3,170,000 after buying an additional 4,173 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Activity

In related news, CAO Gene Liu sold 568 shares of the company's stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 52,142 shares of the company's stock, valued at approximately $16,272,475.36. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.58, for a total transaction of $475,121.60. Following the sale, the president now owns 201,657 shares in the company, valued at approximately $63,033,945.06. This trade represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 261,513 shares of company stock worth $66,621,566 over the last three months. 38.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on TEAM shares. Baird R W upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Jefferies Financial Group dropped their price objective on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Truist Financial reduced their target price on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research note on Monday, March 31st. UBS Group dropped their price target on shares of Atlassian from $330.00 to $230.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 1st. Finally, Oppenheimer raised their price objective 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. Six research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $297.73.

Atlassian Stock Performance

Shares of TEAM opened at $200.30 on Wednesday. The company has a 50-day moving average of $234.84 and a two-hundred day moving average of $243.17. The stock has a market cap of $52.48 billion, a P/E ratio of -149.48 and a beta of 1.07. 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.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) 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%. As a group, research analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal 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.

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