Wellington Management Group LLP Decreases Stake in Atlassian Co. (NASDAQ:TEAM)

by · The Markets Daily

Wellington Management Group LLP reduced its stake in shares of Atlassian Co. (NASDAQ:TEAM – Free Report) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 469,876 shares of the technology company’s stock after selling 32,854 shares during the quarter. Wellington Management Group LLP owned 0.18% of Atlassian worth $114,358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp purchased a new position in Atlassian in the 4th quarter valued at approximately $27,000. Summit Securities Group LLC acquired a new stake in Atlassian in the fourth quarter valued at $38,000. Avion Wealth increased its position in shares of Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares in the last quarter. Assetmark Inc. raised its stake in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after buying an additional 41 shares during the last quarter. Finally, Mainstream Capital Management LLC purchased a new stake in shares of Atlassian in the 4th quarter worth about $49,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $209.73, for a total transaction of $1,666,934.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the transaction, the president now owns 210,471 shares in the company, valued at $54,690,889.35. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,981 shares of company stock valued at $71,914,254 over the last three months. 38.55% of the stock is owned by company insiders.

Analyst Ratings Changes

TEAM has been the subject of a number of research reports. Mizuho lifted their target price on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Macquarie lifted their price objective on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Oppenheimer increased their target price on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 31st. KeyCorp upped their price objective on Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Citigroup raised their price target on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $308.73.

Read Our Latest Report on Atlassian

Atlassian Stock Down 11.4 %

TEAM opened at $198.35 on Friday. The company has a market cap of $51.97 billion, a PE ratio of -148.02 and a beta of 1.07. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The firm has a 50 day moving average price of $265.59 and a 200 day moving average price of $239.42.

Atlassian (NASDAQ:TEAM – Get Free Report) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. Sell-side analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Atlassian Company Profile

(Free Report)

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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