Dimensional Fund Advisors LP Raises Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Dimensional Fund Advisors LP lifted its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 157,752 shares of the technology company's stock after purchasing an additional 5,878 shares during the quarter. Dimensional Fund Advisors LP owned 0.06% of Atlassian worth $38,398,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Atlassian during the fourth quarter worth about $687,486,000. JPMorgan Chase & Co. increased its holdings in Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Invesco Ltd. raised its stake in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after purchasing an additional 1,777,179 shares during the last quarter. Norges Bank bought a new position in shares of Atlassian in the fourth quarter valued at approximately $296,697,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Atlassian during the fourth quarter valued at approximately $234,547,000. 94.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on TEAM shares. StockNews.com lowered shares of Atlassian from a "buy" rating to a "hold" rating in a research note on Monday, March 31st. Wells Fargo & Company dropped their price target on Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Morgan Stanley lowered their target price on Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler restated an "overweight" rating and set a $300.00 price objective (down previously from $365.00) on shares of Atlassian in a report on Friday, May 2nd. Finally, Robert W. Baird upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and dropped their target price for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $285.29.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $322.31, for a total value of $2,561,719.88. Following the sale, the chief executive officer now directly owns 270,232 shares in the company, valued at $87,098,475.92. The trade was a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Joseph Leo Binz sold 2,587 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.09, for a total transaction of $807,376.83. Following the transaction, the chief financial officer now directly owns 169,342 shares in the company, valued at approximately $52,849,944.78. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 260,734 shares of company stock valued at $62,944,544. Company insiders own 38.55% of the company's stock.

Atlassian Stock Down 1.0 %

Atlassian stock traded down $2.18 during midday trading on Wednesday, reaching $205.71. The company's stock had a trading volume of 2,203,106 shares, compared to its average volume of 2,078,968. The business has a 50-day simple moving average of $219.57 and a 200-day simple moving average of $245.69. The company has a market cap of $53.90 billion, a P/E ratio of -153.51 and a beta of 1.06. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

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

Atlassian Company 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.