Forsta AP Fonden acquired a new stake in shares of Atlassian Co. (NASDAQ:TEAM – Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 30,100 shares of the technology company’s stock, valued at approximately $5,152,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. WCM Investment Management LLC raised its stake 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 buying an additional 3,623,862 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Atlassian in the 4th quarter worth approximately $324,141,000. Baillie Gifford & Co. grew its position in Atlassian by 40.4% during the 4th quarter. Baillie Gifford & Co. now owns 7,643,211 shares of the technology company’s stock worth $983,528,000 after purchasing an additional 2,199,990 shares during the last quarter. Brown Advisory Inc. grew its position in Atlassian by 980.1% during the 4th quarter. Brown Advisory Inc. now owns 2,424,085 shares of the technology company’s stock worth $311,931,000 after purchasing an additional 2,199,645 shares during the last quarter. Finally, Durable Capital Partners LP acquired a new position in Atlassian during the 1st quarter valued at approximately $434,144,000. Hedge funds and other institutional investors own 53.17% of the company’s stock.
Insider Buying and Selling at Atlassian
In other news, President Anutthara Bharadwaj sold 4,699 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $142.53, for a total transaction of $669,748.47. Following the completion of the sale, the president now owns 213,479 shares of the company’s stock, valued at $30,427,161.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Atlassian news, CEO Scott Farquhar sold 8,614 shares of Atlassian stock in a transaction on Monday, April 10th. The shares were sold at an average price of $156.31, for a total transaction of $1,346,454.34. Following the sale, the chief executive officer now owns 484,656 shares of the company’s stock, valued at approximately $75,756,579.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 4,699 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $142.53, for a total transaction of $669,748.47. Following the completion of the sale, the president now owns 213,479 shares of the company’s stock, valued at $30,427,161.87. The disclosure for this sale can be found here. Insiders have sold a total of 336,790 shares of company stock valued at $53,378,069 over the last ninety days. Corporate insiders own 43.11% of the company’s stock.
Analyst Upgrades and Downgrades
Atlassian Stock Performance
NASDAQ TEAM opened at $169.45 on Friday. The stock has a 50-day moving average of $161.94 and a 200 day moving average of $158.16. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.67. Atlassian Co. has a twelve month low of $113.86 and a twelve month high of $300.29.
Atlassian (NASDAQ:TEAM – Free Report) last announced its earnings results on Thursday, May 4th. The technology company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.15). Atlassian had a negative return on equity of 79.71% and a negative net margin of 15.89%. The business had revenue of $915.45 million for the quarter, compared to analyst estimates of $898.71 million. As a group, equities research analysts expect that Atlassian Co. will post -0.8 earnings per share for the current fiscal year.
Atlassian Company 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.
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