Atlassian Co. (NASDAQ:TEAM) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its stake in Atlassian Co. (NASDAQ:TEAM) by 7.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,516 shares of the technology company’s stock after selling 127 shares during the quarter. Jennison Associates LLC’s holdings in Atlassian were worth $361,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in shares of Atlassian in the third quarter valued at approximately $26,000. Carmel Capital Partners LLC increased its stake in Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after acquiring an additional 57 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Atlassian by 271.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after acquiring an additional 271 shares during the last quarter. Operose Advisors LLC acquired a new stake in Atlassian during the third quarter worth $99,000. Finally, First Horizon Advisors Inc. increased its stake in Atlassian by 33.4% during the third quarter. First Horizon Advisors Inc. now owns 571 shares of the technology company’s stock worth $115,000 after acquiring an additional 143 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on TEAM. Mizuho cut their target price on Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday. Truist Financial cut their target price on Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday. UBS Group cut their target price on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Canaccord Genuity Group cut their target price on Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research note on Friday. Finally, Oppenheimer lowered their price target on Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Atlassian presently has an average rating of “Hold” and a consensus target price of $223.22.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 4,139 shares of Atlassian stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $881,068.93. Following the completion of the sale, the president now directly owns 167,535 shares of the company’s stock, valued at approximately $35,663,175.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $199.71, for a total transaction of $1,645,810.11. Following the sale, the chief executive officer now owns 366,450 shares in the company, valued at $73,183,729.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 4,139 shares of Atlassian stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $881,068.93. Following the sale, the president now owns 167,535 shares in the company, valued at approximately $35,663,175.45. The disclosure for this sale can be found here. Insiders sold 292,209 shares of company stock valued at $59,632,213 in the last ninety days. Insiders own 40.48% of the company’s stock.

Atlassian Trading Down 9.6 %

NASDAQ:TEAM opened at $179.45 on Monday. The firm has a market cap of $46.55 billion, a PE ratio of -284.84 and a beta of 0.63. The stock has a fifty day moving average price of $199.98 and a 200 day moving average price of $206.59. Atlassian Co. has a 12-month low of $128.02 and a 12-month high of $258.69. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 15.54%. Sell-side analysts anticipate that Atlassian Co. will post -0.42 earnings per share for the current fiscal year.

About Atlassian

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.