Atlassian Co. (NASDAQ:TEAM) Shares Sold by Arohi Asset Management PTE Ltd.

Arohi Asset Management PTE Ltd. cut its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 446,194 shares of the technology company's stock after selling 44,034 shares during the quarter. Atlassian makes up approximately 29.6% of Arohi Asset Management PTE Ltd.'s investment portfolio, making the stock its 2nd largest holding. Arohi Asset Management PTE Ltd. owned approximately 0.17% of Atlassian worth $108,595,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Atlassian during the fourth quarter worth $687,486,000. Invesco Ltd. increased its holdings in shares of Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after buying an additional 1,777,179 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Atlassian by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock valued at $528,851,000 after acquiring an additional 27,899 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in Atlassian by 17,941.0% during the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock worth $528,693,000 after acquiring an additional 2,160,810 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Insider Buying and Selling at Atlassian

In related news, President Anutthara Bharadwaj sold 1,723 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total transaction of $526,962.32. Following the completion of the sale, the president now directly owns 199,934 shares of the company's stock, valued at approximately $61,147,814.56. This trade represents a 0.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.69, for a total value of $2,509,104.12. Following the completion of the transaction, the director now directly owns 278,180 shares in the company, valued at approximately $87,818,644.20. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 260,734 shares of company stock worth $62,944,544 in the last 90 days. 38.55% of the stock is owned by company insiders.

Atlassian Price Performance

Atlassian stock traded up $4.78 during trading hours on Thursday, hitting $210.49. The stock had a trading volume of 880,095 shares, compared to its average volume of 2,367,313. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock's fifty day moving average is $218.00 and its two-hundred day moving average is $245.42. The stock has a market capitalization of $55.15 billion, a price-to-earnings ratio of -157.08 and a beta of 1.06.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The company's quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 earnings per share. As a group, analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on TEAM shares. Robert W. Baird upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and decreased their price target for the company from $320.00 to $255.00 in a research report on Monday, April 14th. Scotiabank upped their target price on Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a report on Friday, January 31st. William Blair reiterated an "outperform" rating on shares of Atlassian in a report on Friday, January 31st. Canaccord Genuity Group reduced their price objective on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Jefferies Financial Group cut their target price on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $285.29.

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.