Hardman Johnston Global Advisors LLC Decreases Stock Position in Atlassian Co. (NASDAQ:TEAM)

Hardman Johnston Global Advisors LLC lowered its stake in shares of Atlassian Co. (NASDAQ:TEAMFree Report) by 28.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 624,452 shares of the technology company’s stock after selling 243,683 shares during the period. Atlassian accounts for about 4.8% of Hardman Johnston Global Advisors LLC’s investment portfolio, making the stock its 5th largest position. Hardman Johnston Global Advisors LLC owned about 0.24% of Atlassian worth $148,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Atlassian during the third quarter valued at approximately $26,000. Meeder Asset Management Inc. increased its position in Atlassian by 151.5% in the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock worth $31,000 after purchasing an additional 147 shares during the last quarter. Tyler Stone Wealth Management bought a new stake in Atlassian in the second quarter worth $34,000. Quarry LP bought a new stake in Atlassian in the second quarter worth $44,000. Finally, Carolinas Wealth Consulting LLC increased its position in Atlassian by 1,365.0% in the first quarter. Carolinas Wealth Consulting LLC now owns 293 shares of the technology company’s stock worth $50,000 after purchasing an additional 273 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the topic of several research reports. Mizuho boosted their price target on shares of Atlassian from $240.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Capital One Financial began coverage on shares of Atlassian in a research note on Monday, December 18th. They set an “equal weight” rating and a $238.00 price objective for the company. UBS Group dropped their price objective on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Truist Financial lifted their price objective on shares of Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Finally, StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $225.81.

Read Our Latest Analysis on TEAM

Atlassian Trading Down 3.8 %

Shares of TEAM traded down $8.12 during trading hours on Friday, reaching $206.53. 1,367,167 shares of the company traded hands, compared to its average volume of 1,701,245. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The stock’s fifty day moving average price is $204.04 and its 200 day moving average price is $206.58. The firm has a market cap of $53.58 billion, a price-to-earnings ratio of -138.88 and a beta of 0.63. Atlassian Co. has a 12-month low of $128.02 and a 12-month high of $258.69.

Atlassian (NASDAQ:TEAMGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. Sell-side analysts forecast that Atlassian Co. will post -0.4 earnings per share for the current year.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $238.95, for a total value of $1,969,186.95. Following the completion of the sale, the chief executive officer now directly owns 403,809 shares in the company, valued at $96,490,160.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Atlassian news, CAO Gene Liu sold 227 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the transaction, the chief accounting officer now directly owns 47,066 shares in the company, valued at $10,018,939.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $238.95, for a total transaction of $1,969,186.95. Following the completion of the transaction, the chief executive officer now owns 403,809 shares of the company’s stock, valued at $96,490,160.55. The disclosure for this sale can be found here. Insiders sold 293,159 shares of company stock worth $62,296,500 over the last three months. 40.48% of the stock is owned by corporate insiders.

About Atlassian

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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