Great Valley Advisor Group Inc. lowered its holdings in shares of Atlassian Co. (NASDAQ:TEAM – Get Rating) by 35.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,679 shares of the technology company’s stock after selling 907 shares during the period. Great Valley Advisor Group Inc.’s holdings in Atlassian were worth $216,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its holdings in shares of Atlassian by 40.4% during the fourth quarter. Baillie Gifford & Co. now owns 7,643,211 shares of the technology company’s stock worth $983,528,000 after buying an additional 2,199,990 shares in the last quarter. Jennison Associates LLC grew its holdings in Atlassian by 41.6% in the third quarter. Jennison Associates LLC now owns 7,134,346 shares of the technology company’s stock valued at $1,502,422,000 after purchasing an additional 2,095,358 shares during the period. WCM Investment Management LLC grew its holdings in Atlassian by 75.2% in the third quarter. WCM Investment Management LLC now owns 5,879,895 shares of the technology company’s stock valued at $1,248,478,000 after purchasing an additional 2,523,053 shares during the period. Artisan Partners Limited Partnership grew its holdings in Atlassian by 9.5% in the third quarter. Artisan Partners Limited Partnership now owns 5,695,486 shares of the technology company’s stock valued at $1,199,412,000 after purchasing an additional 496,121 shares during the period. Finally, Durable Capital Partners LP grew its holdings in Atlassian by 8.5% in the third quarter. Durable Capital Partners LP now owns 2,812,701 shares of the technology company’s stock valued at $592,327,000 after purchasing an additional 221,181 shares during the period. Institutional investors and hedge funds own 45.50% of the company’s stock.
Analysts Set New Price Targets
TEAM has been the subject of a number of recent analyst reports. Morgan Stanley lowered their target price on shares of Atlassian from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. StockNews.com began coverage on shares of Atlassian in a report on Thursday, March 16th. They issued a “hold” rating for the company. BMO Capital Markets lifted their price target on shares of Atlassian from $170.00 to $190.00 and gave the company a “market perform” rating in a research report on Friday, April 14th. Wells Fargo & Company reduced their price target on shares of Atlassian from $250.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, January 6th. Finally, Mizuho reduced their price target on shares of Atlassian from $255.00 to $235.00 and set a “buy” rating on the stock in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $218.15.
Atlassian Stock Up 0.3 %
Atlassian (NASDAQ:TEAM – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The technology company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.33). The company had revenue of $872.70 million during the quarter, compared to analyst estimates of $842.45 million. Atlassian had a negative net margin of 11.17% and a negative return on equity of 73.57%. On average, equities research analysts anticipate that Atlassian Co. will post -0.84 earnings per share for the current fiscal year.
Insider Buying and Selling at Atlassian
In other Atlassian news, CEO Scott Farquhar sold 8,614 shares of the business’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $165.35, for a total transaction of $1,424,324.90. Following the completion of the sale, the chief executive officer now owns 441,586 shares in the company, valued at $73,016,245.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Atlassian news, CEO Scott Farquhar sold 8,614 shares of the business’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $165.35, for a total transaction of $1,424,324.90. Following the completion of the sale, the chief executive officer now owns 441,586 shares in the company, valued at $73,016,245.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Joseph Leo Binz sold 2,607 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $164.83, for a total transaction of $429,711.81. Following the sale, the chief financial officer now owns 70,772 shares of the company’s stock, valued at approximately $11,665,348.76. The disclosure for this sale can be found here. Insiders sold a total of 272,715 shares of company stock worth $44,663,610 over the last 90 days. Insiders own 43.11% of the company’s stock.
Atlassian Company 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.
Further Reading
- Get a free copy of the StockNews.com research report on Atlassian (TEAM)
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