Atlassian Co. (NASDAQ:TEAM) Position Decreased by Thematics Asset Management

Thematics Asset Management lessened its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 35.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,428 shares of the technology company's stock after selling 10,820 shares during the period. Thematics Asset Management's holdings in Atlassian were worth $4,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in TEAM. Massachusetts Financial Services Co. MA acquired a new position in shares of Atlassian in the fourth quarter worth about $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 in the last quarter. Invesco Ltd. increased its position in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock valued at $595,171,000 after buying an additional 1,777,179 shares in the last quarter. Norges Bank purchased a new stake in Atlassian in the 4th quarter worth $296,697,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Atlassian in the 4th quarter worth about $234,547,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $192.50, for a total value of $1,529,990.00. Following the sale, the chief executive officer now directly owns 262,284 shares in the company, valued at approximately $50,489,670. This trade represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Joseph Leo Binz sold 2,587 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $312.09, for a total transaction of $807,376.83. Following the completion of the sale, the chief financial officer now directly owns 169,342 shares in the company, valued at approximately $52,849,944.78. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 261,513 shares of company stock worth $66,621,566. 38.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TEAM shares. Mizuho increased their price objective on Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Oppenheimer boosted their price target on shares of Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Truist Financial cut their price objective on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a report on Monday, March 31st. JMP Securities restated a "market perform" rating on shares of Atlassian in a report on Friday, January 31st. Finally, Wells Fargo & Company cut their price target on Atlassian from $375.00 to $330.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Six equities 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $297.73.

Atlassian Price Performance

Shares of TEAM traded up $7.97 on Wednesday, reaching $208.27. The stock had a trading volume of 1,802,614 shares, compared to its average volume of 2,054,664. The firm has a 50-day moving average of $234.84 and a 200 day moving average of $243.17. The firm has a market capitalization of $54.57 billion, a PE ratio of -155.42 and a beta of 1.07. Atlassian Co. has a twelve month low of $135.29 and a twelve month 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.

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%. Sell-side analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

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.