Atlassian Co. (NASDAQ:TEAM) Position Cut by Man Group plc

Man Group plc reduced its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 32.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 315,920 shares of the technology company's stock after selling 154,562 shares during the period. Man Group plc owned 0.12% of Atlassian worth $76,889,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Allworth Financial LP increased its position in Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after purchasing an additional 47 shares in the last quarter. Pallas Capital Advisors LLC increased its position in Atlassian by 185.9% during the 4th quarter. Pallas Capital Advisors LLC now owns 4,245 shares of the technology company's stock worth $1,033,000 after purchasing an additional 2,760 shares in the last quarter. Slow Capital Inc. increased its position in Atlassian by 2.9% during the 4th quarter. Slow Capital Inc. now owns 33,879 shares of the technology company's stock worth $8,245,000 after purchasing an additional 959 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Atlassian by 3,951.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 149,690 shares of the technology company's stock worth $36,432,000 after purchasing an additional 145,995 shares in the last quarter. Finally, SYM FINANCIAL Corp acquired a new stake in Atlassian during the 4th quarter worth approximately $230,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Stock Down 0.0%

Shares of TEAM stock traded down $0.09 during mid-day trading on Friday, reaching $220.79. 1,730,232 shares of the company were exchanged, compared to its average volume of 2,096,411. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $57.85 billion, a P/E ratio of -164.77 and a beta of 1.06. The business's 50 day simple moving average is $213.69 and its 200 day simple moving average is $246.60.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data 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. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same period last year, the business posted $0.89 earnings per share. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on TEAM shares. The Goldman Sachs Group increased their target price on shares of Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. JMP Securities reaffirmed a "market perform" rating on shares of Atlassian in a research report on Friday, January 31st. Piper Sandler reaffirmed an "overweight" rating and issued a $300.00 price objective (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. KeyCorp lowered their price objective on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, Oppenheimer increased their price objective on shares of Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $285.29.

Insider Buying and Selling

In related news, CAO Gene Liu sold 541 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $122,000.91. Following the transaction, the chief accounting officer now directly owns 51,481 shares in the company, valued at $11,609,480.31. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $313.95, for a total value of $2,495,274.60. Following the transaction, the chief executive officer now owns 230,492 shares in the company, valued at $72,362,963.40. This trade represents a 3.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 267,301 shares of company stock worth $60,975,089 over the last ninety days. 38.55% of the stock is owned by insiders.

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.