Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp raised its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 82,001 shares of the technology company's stock after purchasing an additional 4,797 shares during the quarter. Mackenzie Financial Corp's holdings in Atlassian were worth $19,957,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TEAM. JPMorgan Chase & Co. raised its position 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 buying an additional 1,806,042 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Atlassian during the 4th quarter worth approximately $687,486,000. Invesco Ltd. raised its stake in shares of Atlassian by 265.9% during the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after buying an additional 1,777,179 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Atlassian by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock valued at $528,851,000 after buying an additional 27,899 shares during the period. Finally, Voya Investment Management LLC boosted its stake in shares of Atlassian by 17,941.0% in the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after buying an additional 2,160,810 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 7,674 shares of Atlassian stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total transaction of $1,730,563.74. Following the sale, the president now owns 192,260 shares of the company's stock, valued at $43,356,552.60. The trade was a 3.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $278.61, for a total value of $2,214,392.28. Following the sale, the director now owns 166,908 shares of the company's stock, valued at $46,502,237.88. This represents a 4.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 302,951 shares of company stock valued at $65,803,565. Company insiders own 38.55% of the company's stock.

Analyst Ratings Changes

TEAM has been the topic of several recent analyst reports. Macquarie lowered their target price on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company decreased their target price on Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. BMO Capital Markets dropped their price target on Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Scotiabank boosted their price objective on shares of Atlassian from $250.00 to $330.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group increased their price objective on shares of Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and a consensus price target of $285.29.

Atlassian Trading Down 4.3%

Shares of NASDAQ TEAM traded down $9.10 during midday trading on Thursday, hitting $203.93. The stock had a trading volume of 2,862,915 shares, compared to its average volume of 2,107,565. 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 Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a market capitalization of $53.53 billion, a price-to-earnings ratio of -152.19 and a beta of 1.06. The company has a fifty day moving average price of $211.78 and a 200 day moving average price of $246.41.

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. 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 for the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the previous year, the company posted $0.89 earnings per share. Atlassian's revenue was up 14.1% compared to the same quarter last year. On average, 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.