Atlassian Corporation PLC $TEAM Shares Sold by Massachusetts Financial Services Co. MA
by Tristan Rich · The Markets DailyMassachusetts Financial Services Co. MA trimmed its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM – Free Report) by 80.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 386,497 shares of the technology company’s stock after selling 1,584,335 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.15% of Atlassian worth $62,667,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Physician Wealth Advisors Inc. grew its holdings in Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after purchasing an additional 61 shares in the last quarter. GAMMA Investing LLC grew its holdings in Atlassian by 12.0% during the 4th quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock valued at $100,000 after purchasing an additional 66 shares in the last quarter. Snowden Capital Advisors LLC grew its holdings in Atlassian by 1.6% during the 2nd quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $907,000 after purchasing an additional 71 shares in the last quarter. ABN Amro Investment Solutions grew its holdings in Atlassian by 3.4% during the 3rd quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock valued at $392,000 after purchasing an additional 80 shares in the last quarter. Finally, Allegiance Financial Group Advisory Services LLC grew its holdings in Atlassian by 6.6% during the 3rd quarter. Allegiance Financial Group Advisory Services LLC now owns 1,307 shares of the technology company’s stock valued at $209,000 after purchasing an additional 81 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
TEAM has been the subject of a number of recent analyst reports. Zacks Research raised shares of Atlassian from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Canaccord Genuity Group set a $185.00 price target on shares of Atlassian in a report on Friday, February 6th. Guggenheim set a $115.00 price target on shares of Atlassian in a report on Thursday, April 9th. UBS Group reaffirmed a “neutral” rating and set a $105.00 price target on shares of Atlassian in a report on Friday, February 6th. Finally, KeyCorp reduced their price objective on shares of Atlassian from $170.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Twenty investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.74.
Get Our Latest Analysis on Atlassian
Insider Activity at Atlassian
In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $94.81, for a total transaction of $726,718.65. Following the sale, the chief executive officer directly owned 275,940 shares of the company’s stock, valued at approximately $26,161,871.40. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Brian Duffy sold 1,222 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $81.35, for a total transaction of $99,409.70. Following the sale, the executive owned 124,332 shares in the company, valued at approximately $10,114,408.20. This trade represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 143,983 shares of company stock valued at $16,938,095 in the last ninety days. 36.66% of the stock is owned by insiders.
Atlassian Trading Down 2.6%
NASDAQ TEAM opened at $59.71 on Wednesday. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $242.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $15.75 billion, a price-to-earnings ratio of -82.93 and a beta of 0.99. The company’s fifty day moving average price is $75.67 and its two-hundred day moving average price is $124.59.
Atlassian (NASDAQ:TEAM – Get Free Report) last posted its quarterly earnings data on Friday, February 6th. The technology company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the firm posted $0.96 EPS. The firm’s revenue was up 23.3% compared to the same quarter last year. As a group, research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.
Atlassian Company Profile
Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.
Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.