Durable Capital Partners LP Has $383.46 Million Position in Atlassian Co. (NASDAQ:TEAM)

Durable Capital Partners LP boosted its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 499.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,575,546 shares of the technology company's stock after buying an additional 1,312,820 shares during the period. Atlassian accounts for approximately 3.1% of Durable Capital Partners LP's holdings, making the stock its 12th biggest position. Durable Capital Partners LP owned about 0.60% of Atlassian worth $383,456,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp acquired a new position in shares of Atlassian during the fourth quarter worth $27,000. Colonial Trust Co SC lifted its stake in shares of Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after buying an additional 69 shares during the period. Summit Securities Group LLC purchased a new position in shares of Atlassian in the fourth quarter worth about $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Atlassian during the 4th quarter valued at approximately $39,000. Finally, Avion Wealth increased its stake in shares of Atlassian by 1,308.3% in 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 period. Institutional investors own 94.45% of the company's stock.

Insider Transactions at Atlassian

In other Atlassian news, CFO Joseph Leo Binz sold 2,587 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.09, for a total transaction of $807,376.83. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $209.19, for a total value 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 $33,252,842.40. The trade was a 4.76 % 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 90 days. 38.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TEAM shares. Morgan Stanley cut their price target on Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Stephens decreased their target price on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Barclays decreased their price objective on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a research report on Monday. JMP Securities restated a "market perform" rating on shares of Atlassian in a research report on Friday, January 31st. Finally, Jefferies Financial Group lowered their target price on Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Atlassian currently has a consensus rating of "Moderate Buy" and an average target price of $285.29.

Atlassian Stock Down 0.5 %

NASDAQ:TEAM traded down $0.97 on Friday, reaching $207.25. The stock had a trading volume of 1,479,864 shares, compared to its average volume of 2,083,327. 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 company has a 50-day moving average of $215.36 and a 200 day moving average of $245.61. The stock has a market cap of $54.30 billion, a P/E ratio of -154.66 and a beta of 1.06.

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

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.