Atlassian Co. (NASDAQ:TEAM) Shares Sold by Sustainable Growth Advisers LP

Sustainable Growth Advisers LP trimmed its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 70.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 406,006 shares of the technology company’s stock after selling 947,864 shares during the quarter. Sustainable Growth Advisers LP’s holdings in Atlassian were worth $98,814,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Point72 Asset Management L.P. lifted its stake in shares of Atlassian by 760.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after purchasing an additional 617,566 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Atlassian by 122.0% in the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after purchasing an additional 551,500 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Atlassian in the 3rd quarter valued at $57,149,000. Parnassus Investments LLC lifted its stake in shares of Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after purchasing an additional 245,286 shares during the period. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Atlassian by 12,047.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock valued at $55,521,000 after purchasing an additional 226,246 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Trading Down 8.1 %

Shares of TEAM opened at $208.00 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The firm has a 50-day moving average price of $274.08 and a 200 day moving average price of $233.34. The firm has a market capitalization of $54.50 billion, a P/E ratio of -155.22 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last posted 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 forecast that Atlassian Co. will post -0.34 EPS for the current year.

Insider Transactions at Atlassian

In related news, CAO Gene Liu sold 779 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $320.01, for a total transaction of $249,287.79. Following the sale, the chief accounting officer now directly owns 52,710 shares in the company, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the sale, the president now owns 211,991 shares in the company, valued at $54,006,827.16. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 272,501 shares of company stock valued at $74,167,124. 38.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on TEAM shares. KeyCorp boosted their target price on shares of Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Cantor Fitzgerald boosted their price target on shares of Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Scotiabank boosted their price target on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Morgan Stanley boosted their price target on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, UBS Group boosted their price target on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Profile

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.