Baillie Gifford & Co. cut its stake in shares of Atlassian Co. (NASDAQ:TEAM – Free Report) by 2.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,476,246 shares of the technology company’s stock after selling 166,965 shares during the quarter. Atlassian makes up approximately 1.2% of Baillie Gifford & Co.’s portfolio, making the stock its 22nd biggest position. Baillie Gifford & Co. owned 2.92% of Atlassian worth $1,279,709,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Atlassian by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,513,417 shares of the technology company’s stock worth $2,510,987,000 after buying an additional 477,234 shares in the last quarter. WCM Investment Management LLC boosted its holdings in Atlassian by 61.6% in the fourth quarter. WCM Investment Management LLC now owns 9,503,757 shares of the technology company’s stock valued at $1,222,943,000 after purchasing an additional 3,623,862 shares in the last quarter. Franklin Resources Inc. acquired a new position in Atlassian in the fourth quarter valued at approximately $324,141,000. Brown Advisory Inc. boosted its holdings in Atlassian by 980.1% in the fourth quarter. Brown Advisory Inc. now owns 2,424,085 shares of the technology company’s stock valued at $311,931,000 after purchasing an additional 2,199,645 shares in the last quarter. Finally, State Street Corp boosted its holdings in Atlassian by 3.8% in the second quarter. State Street Corp now owns 1,707,326 shares of the technology company’s stock valued at $319,953,000 after purchasing an additional 62,297 shares in the last quarter. 53.17% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on TEAM shares. Robert W. Baird upped their price target on Atlassian from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Monday. Mizuho decreased their price objective on Atlassian from $215.00 to $205.00 in a report on Monday, July 17th. StockNews.com initiated coverage on Atlassian in a report on Thursday, May 18th. They issued a “hold” rating for the company. Oppenheimer reissued an “outperform” rating and issued a $200.00 price objective on shares of Atlassian in a report on Monday, April 17th. Finally, OTR Global downgraded Atlassian to a “positive” rating in a report on Wednesday, July 12th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.61.
Atlassian Price Performance
Atlassian stock traded up $0.41 during midday trading on Monday, reaching $174.83. The company’s stock had a trading volume of 427,538 shares, compared to its average volume of 2,159,230. Atlassian Co. has a fifty-two week low of $113.86 and a fifty-two week high of $300.29. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.31 and a current ratio of 1.31. The stock’s 50 day simple moving average is $169.70 and its 200 day simple moving average is $162.07. The firm has a market capitalization of $44.93 billion, a PE ratio of -84.26 and a beta of 0.76.
Atlassian (NASDAQ:TEAM – Get Free Report) last released its earnings results on Thursday, May 4th. The technology company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.15). Atlassian had a negative net margin of 15.89% and a negative return on equity of 79.71%. The business had revenue of $915.45 million during the quarter, compared to analyst estimates of $898.71 million. On average, equities research analysts forecast that Atlassian Co. will post -0.8 earnings per share for the current year.
Insider Buying and Selling at Atlassian
In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $190.38, for a total value of $1,568,921.58. Following the completion of the sale, the chief executive officer now owns 420,291 shares of the company’s stock, valued at $80,015,000.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $190.38, for a total transaction of $1,568,921.58. Following the completion of the transaction, the chief executive officer now owns 420,291 shares of the company’s stock, valued at approximately $80,015,000.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gene Liu sold 337 shares of Atlassian stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $195.00, for a total value of $65,715.00. Following the transaction, the insider now directly owns 49,292 shares of the company’s stock, valued at approximately $9,611,940. The disclosure for this sale can be found here. Over the last quarter, insiders sold 336,275 shares of company stock valued at $54,263,893. 43.11% of the stock is owned by company insiders.
Atlassian Profile
Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.