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Machina Capital S.A.S. Cuts Position in Atlassian Corporation PLC (NASDAQ:TEAM)

Atlassian logo with Computer and Technology background

Machina Capital S.A.S. cut its holdings in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 40.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,094 shares of the technology company's stock after selling 2,144 shares during the quarter. Machina Capital S.A.S.'s holdings in Atlassian were worth $657,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TEAM. Clean Yield Group lifted its stake in Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after acquiring an additional 93 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian during the 4th quarter valued at approximately $27,000. Colonial Trust Co SC lifted its position in Atlassian by 100.0% in 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 last quarter. Summit Securities Group LLC bought a new stake in shares of Atlassian during the fourth quarter worth $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Atlassian during the fourth quarter valued at $39,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $202.78, for a total value of $1,554,308.70. Following the sale, the director owned 367,920 shares of the company's stock, valued at approximately $74,606,817.60. This represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $202.78, for a total value of $1,554,308.70. Following the sale, the chief executive officer directly owned 367,920 shares in the company, valued at approximately $74,606,817.60. The trade was a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 469,871 shares of company stock worth $97,195,068 in the last three months. 38.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. KeyCorp lowered their target price on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a research note on Thursday, July 17th. Capital One Financial lowered shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price target on the stock. in a research report on Wednesday, July 16th. UBS Group reiterated a "hold" rating on shares of Atlassian in a report on Monday, July 7th. Piper Sandler reissued an "overweight" rating and set a $300.00 price objective (down from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $300.00 target price (down from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $274.05.

View Our Latest Report on Atlassian

Atlassian Stock Performance

NASDAQ TEAM traded up $3.17 on Friday, reaching $203.00. The stock had a trading volume of 1,122,031 shares, compared to its average volume of 2,091,735. Atlassian Corporation PLC has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The business's 50-day moving average price is $203.90 and its 200 day moving average price is $230.30. The stock has a market cap of $53.29 billion, a P/E ratio of -122.29 and a beta of 0.94.

Atlassian (NASDAQ:TEAM - Get Free Report) last released 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. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The company's quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Atlassian Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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