Mackenzie Financial Corp Sells 4,917 Shares of Atlassian Co. (NASDAQ:TEAM)

Mackenzie Financial Corp decreased its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,621 shares of the technology company's stock after selling 4,917 shares during the period. Mackenzie Financial Corp's holdings in Atlassian were worth $12,754,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TEAM. OFI Invest Asset Management acquired a new stake in shares of Atlassian during the third quarter worth approximately $26,000. Tyler Stone Wealth Management acquired a new stake in shares of Atlassian during the second quarter worth approximately $34,000. Meeder Asset Management Inc. increased its holdings in shares of Atlassian by 151.5% during the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company's stock worth $31,000 after buying an additional 147 shares in the last quarter. Carmel Capital Partners LLC increased its holdings in shares of Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company's stock worth $52,000 after buying an additional 57 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Atlassian during the second quarter worth approximately $44,000. Institutional investors own 93.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TEAM shares. The Goldman Sachs Group raised their price objective on shares of Atlassian from $188.00 to $215.00 and gave the stock a "neutral" rating in a report on Friday, February 2nd. Barclays raised shares of Atlassian from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Truist Financial raised their price target on shares of Atlassian from $180.00 to $220.00 and gave the company a "hold" rating in a report on Tuesday, January 16th. UBS Group lowered their price target on shares of Atlassian from $260.00 to $250.00 and set a "neutral" rating for the company in a report on Friday, February 2nd. Finally, William Blair reissued an "outperform" rating on shares of Atlassian in a report on Friday, February 2nd. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $224.25.

Atlassian Trading Down 1.1 %

Shares of TEAM stock traded down $2.06 on Friday, hitting $191.55. The stock had a trading volume of 1,769,243 shares, compared to its average volume of 1,464,101. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69. The firm has a market cap of $49.69 billion, a P/E ratio of -128.56 and a beta of 0.63. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The company has a fifty day moving average price of $201.83 and a two-hundred day moving average price of $206.64.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly 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 firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, analysts forecast that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the business's stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $247.60, for a total value of $2,040,471.60. Following the completion of the transaction, the chief executive officer now owns 387,327 shares of the company's stock, valued at approximately $95,902,165.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the company's stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $247.60, for a total value of $2,040,471.60. Following the completion of the transaction, the chief executive officer now directly owns 387,327 shares of the company's stock, valued at approximately $95,902,165.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 4,139 shares of the company's stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $881,068.93. Following the completion of the transaction, the president now directly owns 167,535 shares of the company's stock, valued at $35,663,175.45. The disclosure for this sale can be found here. Insiders sold 298,930 shares of company stock valued at $62,707,908 in the last quarter. Company insiders own 40.48% of the company's stock.

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.