Mariner LLC Has $2.44 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Mariner LLC boosted its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 19.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,036 shares of the technology company's stock after acquiring an additional 1,634 shares during the quarter. Mariner LLC's holdings in Atlassian were worth $2,443,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TEAM. Massachusetts Financial Services Co. MA bought a new stake in Atlassian during the fourth quarter worth about $687,486,000. JPMorgan Chase & Co. grew its stake in Atlassian by 72.9% during the fourth 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. Invesco Ltd. grew its stake in Atlassian by 265.9% during the fourth 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 during the last quarter. Norges Bank bought a new stake in Atlassian during the fourth quarter worth about $296,697,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Atlassian during the fourth quarter valued at approximately $234,547,000. Institutional investors own 94.45% of the company's stock.

Atlassian Trading Up 0.5 %

NASDAQ:TEAM traded up $1.15 on Monday, reaching $229.83. The company's stock had a trading volume of 1,722,420 shares, compared to its average volume of 2,047,927. Atlassian Co. has a 1-year low of $135.29 and a 1-year 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 firm has a market cap of $60.22 billion, a PE ratio of -171.51 and a beta of 1.07. The business's 50-day moving average price is $227.77 and its two-hundred day moving average price is $244.92.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Equities research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TEAM shares. UBS Group dropped their price objective on shares of Atlassian from $330.00 to $230.00 and set a "neutral" rating for the company in a research report on Tuesday, April 1st. Macquarie upgraded Atlassian from a "neutral" rating to an "outperform" rating and dropped their target price for the stock from $317.00 to $270.00 in a research report on Thursday, April 10th. Scotiabank boosted their target price on Atlassian from $250.00 to $330.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. KeyCorp dropped their target price on Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley dropped their target price on Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Five 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $301.90.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the completion of the transaction, the chief executive officer now directly owns 270,232 shares of the company's stock, valued at $87,098,475.92. This represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 1,723 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total value of $526,962.32. Following the transaction, the president now directly owns 199,934 shares of the company's stock, valued at $61,147,814.56. This represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 261,513 shares of company stock valued at $65,866,506. Company insiders own 38.55% of the company's stock.

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.