Atlassian Co. (NASDAQ:TEAM) Shares Acquired by WCM Investment Management LLC

WCM Investment Management LLC increased its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,640,536 shares of the technology company's stock after buying an additional 249,017 shares during the quarter. Atlassian accounts for approximately 6.4% of WCM Investment Management LLC's holdings, making the stock its 2nd biggest holding. WCM Investment Management LLC owned about 3.74% of Atlassian worth $2,325,490,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Atlassian in the 3rd quarter worth approximately $26,000. Meeder Asset Management Inc. boosted its holdings in Atlassian by 151.5% in the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company's stock valued at $31,000 after acquiring an additional 147 shares in the last quarter. Tyler Stone Wealth Management purchased a new position in Atlassian during the 2nd quarter valued at $34,000. Quarry LP bought a new position in Atlassian in the 2nd quarter worth $44,000. Finally, Carolinas Wealth Consulting LLC lifted its position in shares of Atlassian by 1,365.0% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 293 shares of the technology company's stock worth $50,000 after purchasing an additional 273 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TEAM shares. Mizuho increased their price target on shares of Atlassian from $240.00 to $265.00 and gave the stock a "buy" rating in a research note on Tuesday, January 16th. Truist Financial upped their price target on Atlassian from $180.00 to $220.00 and gave the stock a "hold" rating in a research note on Tuesday, January 16th. KeyCorp initiated coverage on Atlassian in a research report on Tuesday, March 19th. They set a "sector weight" rating for the company. William Blair reaffirmed an "outperform" rating on shares of Atlassian in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group increased their price target on shares of Atlassian from $188.00 to $215.00 and gave the stock a "neutral" rating in a research note on Friday, February 2nd. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Atlassian has a consensus rating of "Hold" and an average price target of $225.81.

Insider Buying and Selling

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the business's stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $240.11, for a total transaction of $1,978,746.51. Following the completion of the sale, the chief executive officer now directly owns 420,291 shares in the company, valued at approximately $100,916,072.01. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, President Anutthara Bharadwaj sold 2,470 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $240.55, for a total value of $594,158.50. Following the transaction, the president now owns 171,674 shares in the company, valued at approximately $41,296,180.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the firm's stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $240.11, for a total transaction of $1,978,746.51. Following the completion of the transaction, the chief executive officer now directly owns 420,291 shares in the company, valued at approximately $100,916,072.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,159 shares of company stock worth $62,296,500. 40.48% of the stock is owned by insiders.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded down $8.12 during midday trading on Friday, reaching $206.53. 1,367,694 shares of the company's stock traded hands, compared to its average volume of 1,632,520. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69. The company has a market cap of $53.58 billion, a price-to-earnings ratio of -138.61 and a beta of 0.63. The stock has a 50 day moving average of $203.83 and a 200 day moving average of $206.65.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. As a group, equities research analysts anticipate that Atlassian Co. will post -0.4 EPS for the current fiscal 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.