Ellevest Inc. trimmed its position in Atlassian Co. (NASDAQ:TEAM – Get Rating) by 48.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 912 shares of the technology company’s stock after selling 856 shares during the period. Ellevest Inc.’s holdings in Atlassian were worth $117,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its position in Atlassian by 40.4% in the 4th quarter. Baillie Gifford & Co. now owns 7,643,211 shares of the technology company’s stock valued at $983,528,000 after buying an additional 2,199,990 shares during the last quarter. Jennison Associates LLC boosted its position in Atlassian by 41.6% in the 3rd quarter. Jennison Associates LLC now owns 7,134,346 shares of the technology company’s stock valued at $1,502,422,000 after buying an additional 2,095,358 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in Atlassian by 9.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 5,695,486 shares of the technology company’s stock valued at $1,199,412,000 after buying an additional 496,121 shares during the last quarter. Durable Capital Partners LP boosted its position in shares of Atlassian by 8.5% in the 3rd quarter. Durable Capital Partners LP now owns 2,812,701 shares of the technology company’s stock worth $592,327,000 after purchasing an additional 221,181 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Atlassian by 14.0% during the third quarter. Alliancebernstein L.P. now owns 1,893,159 shares of the technology company’s stock worth $398,680,000 after purchasing an additional 232,868 shares during the period. 45.50% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Piper Sandler raised their target price on Atlassian from $140.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, February 3rd. Oppenheimer reissued an “outperform” rating and issued a $200.00 target price on shares of Atlassian in a research report on Monday, April 17th. BMO Capital Markets raised their price target on Atlassian from $170.00 to $190.00 and gave the company a “market perform” rating in a research note on Friday, April 14th. Wells Fargo & Company decreased their price target on Atlassian from $250.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, January 6th. Finally, Mizuho decreased their price target on Atlassian from $255.00 to $235.00 and set a “buy” rating for the company in a research note on Monday, April 17th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $213.60.
Insider Transactions at Atlassian
In other news, CEO Michael Cannon-Brookes sold 8,614 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $184.75, for a total value of $1,591,436.50. Following the completion of the transaction, the chief executive officer now owns 267,034 shares of the company’s stock, valued at $49,334,531.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President Anutthara Bharadwaj sold 2,622 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $164.83, for a total value of $432,184.26. Following the completion of the transaction, the president now owns 131,459 shares in the company, valued at approximately $21,668,386.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 8,614 shares of the firm’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $184.75, for a total transaction of $1,591,436.50. Following the completion of the transaction, the chief executive officer now owns 267,034 shares of the company’s stock, valued at approximately $49,334,531.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 281,329 shares of company stock valued at $46,153,832. 43.11% of the stock is currently owned by insiders.
Atlassian Trading Down 7.6 %
Atlassian stock opened at $143.06 on Wednesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.30. Atlassian Co. has a 52 week low of $113.86 and a 52 week high of $300.29. The stock has a fifty day moving average of $162.65 and a 200-day moving average of $156.17.
Atlassian (NASDAQ:TEAM – Get Rating) last issued its earnings results on Thursday, February 2nd. The technology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.33). The business had revenue of $872.70 million for the quarter, compared to analyst estimates of $842.45 million. Atlassian had a negative return on equity of 73.57% and a negative net margin of 11.17%. Equities research analysts forecast that Atlassian Co. will post -0.84 EPS for the current fiscal year.
Atlassian Profile
Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.