Atlassian Co. (NASDAQ:TEAM) Stake Cut by Capital International Investors

Capital International Investors decreased its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 37.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,790,765 shares of the technology company’s stock after selling 2,881,950 shares during the period. Capital International Investors owned about 1.83% of Atlassian worth $1,166,291,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Virtu Financial LLC bought a new position in Atlassian in the third quarter worth about $606,000. SkyView Investment Advisors LLC lifted its holdings in shares of Atlassian by 3.0% in 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 last quarter. Wilmington Savings Fund Society FSB grew its stake 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 buying an additional 1,081 shares during the last quarter. Tidal Investments LLC increased its position in Atlassian by 143.2% in the third quarter. Tidal Investments LLC now owns 12,605 shares of the technology company’s stock worth $2,002,000 after buying an additional 7,422 shares during the period. Finally, Synovus Financial Corp lifted its stake in 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. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TEAM. Morgan Stanley cut their price objective on shares of Atlassian from $370.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday. Stephens restated an “equal weight” rating and issued a $255.00 target price on shares of Atlassian in a research report on Monday. Cantor Fitzgerald upgraded Atlassian from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $304.00 to $272.00 in a research report on Wednesday, April 2nd. JMP Securities reissued a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Finally, Mizuho increased their target price on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Six 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $297.73.

Atlassian Trading Down 1.2 %

Atlassian stock opened at $202.75 on Friday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $53.12 billion, a price-to-earnings ratio of -151.30 and a beta of 1.07. The company has a 50 day moving average price of $241.92 and a 200 day moving average price of $241.88.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Research analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Insider Activity

In other news, CFO Joseph Leo Binz sold 2,587 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $312.09, for a total value of $807,376.83. Following the transaction, the chief financial officer now directly owns 169,342 shares of the company’s stock, valued at approximately $52,849,944.78. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $185.61, for a total value of $1,475,228.28. Following the sale, the director now owns 333,816 shares of the company’s stock, valued at approximately $61,959,587.76. This represents a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 261,513 shares of company stock worth $67,123,959 in the last 90 days. Company insiders own 38.55% of the company’s stock.

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.