Dragoneer Investment Group LLC Sells 1,835,091 Shares of Atlassian Co. (NASDAQ:TEAM)

Dragoneer Investment Group LLC cut its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 50.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,816,027 shares of the technology company's stock after selling 1,835,091 shares during the period. Atlassian accounts for about 7.7% of Dragoneer Investment Group LLC's investment portfolio, making the stock its 5th biggest position. Dragoneer Investment Group LLC owned 0.69% of Atlassian worth $441,985,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TEAM. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlassian during the fourth quarter valued at approximately $27,000. Colonial Trust Co SC lifted its holdings in Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after buying an additional 69 shares in the last quarter. Summit Securities Group LLC bought a new position in Atlassian in the 4th quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Atlassian in the 4th quarter valued at $39,000. Finally, Avion Wealth raised its position in shares of Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after acquiring an additional 157 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $209.19, for a total transaction of $1,662,642.12. Following the completion of the sale, the chief executive officer now owns 158,960 shares in the company, valued at approximately $33,252,842.40. This trade represents a 4.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.58, for a total value of $475,121.60. Following the sale, the president now owns 201,657 shares of the company's stock, valued at approximately $63,033,945.06. This represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 260,734 shares of company stock worth $62,098,082 over the last ninety days. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Down 0.5 %

Shares of TEAM traded down $0.97 during mid-day trading on Friday, hitting $207.25. 1,479,864 shares of the company's stock were exchanged, compared to its average volume of 2,083,327. The company has a 50-day simple moving average of $215.36 and a 200 day simple moving average of $245.61. 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 company has a market cap of $54.30 billion, a PE ratio of -154.66 and a beta of 1.06. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS. On average, research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TEAM shares. BMO Capital Markets lowered their price objective on Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. JMP Securities reissued a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. Oppenheimer raised their price objective on shares of Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Canaccord Genuity Group dropped their target price 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, Baird R W upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.