Atlassian Co. (NASDAQ:TEAM) is Oberndorf William E's 3rd Largest Position

Oberndorf William E lowered its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 40.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,892 shares of the technology company's stock after selling 38,000 shares during the period. Atlassian makes up approximately 22.7% of Oberndorf William E's investment portfolio, making the stock its 3rd largest holding. Oberndorf William E's holdings in Atlassian were worth $13,603,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after buying an additional 1,806,042 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Atlassian during the fourth quarter valued at $687,486,000. Invesco Ltd. grew its position 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 valued at $595,171,000 after purchasing an additional 1,777,179 shares during the period. Geode Capital Management LLC increased its stake in shares of Atlassian by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock worth $528,851,000 after purchasing an additional 27,899 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in shares of 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 purchasing an additional 2,160,810 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Trading Up 0.0%

NASDAQ TEAM opened at $214.49 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $56.30 billion, a P/E ratio of -160.07 and a beta of 1.06. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The firm has a 50-day moving average price of $213.39 and a 200 day moving average price of $247.54.

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

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $214.92, for a total value of $1,708,184.16. Following the completion of the transaction, the chief executive officer now owns 103,324 shares in the company, valued at $22,206,394.08. This trade represents a 7.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 7,674 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $1,730,563.74. Following the sale, the president now directly owns 192,260 shares in the company, valued at approximately $43,356,552.60. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 295,003 shares of company stock valued at $66,087,944. 38.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

TEAM has been the subject of several research reports. Stephens dropped their price target on Atlassian from $255.00 to $221.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. KeyCorp dropped their target price on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Piper Sandler reiterated an "overweight" rating and issued a $300.00 target price (down from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. The Goldman Sachs Group raised their price target on shares of Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $285.29.

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.

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