Atlassian Co. (NASDAQ:TEAM) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,003,385 shares of the technology company's stock after selling 172,097 shares during the period. Franklin Resources Inc. owned approximately 0.78% of Atlassian worth $476,525,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Atlassian by 12.4% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company's stock valued at $14,763,000 after acquiring an additional 8,073 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in Atlassian in the 4th quarter valued at $202,000. American Century Companies Inc. increased its holdings in Atlassian by 58.7% in the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company's stock valued at $86,672,000 after acquiring an additional 159,102 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Atlassian in the 4th quarter valued at $13,805,000. Finally, Royal Bank of Canada increased its holdings in Atlassian by 17.3% in the 3rd quarter. Royal Bank of Canada now owns 381,430 shares of the technology company's stock valued at $76,862,000 after acquiring an additional 56,149 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors.

Atlassian Stock Down 1.0 %

Shares of TEAM traded down $1.79 during mid-day trading on Tuesday, hitting $178.05. The company's stock had a trading volume of 847,752 shares, compared to its average volume of 1,702,721. The company's 50-day moving average is $191.90 and its 200-day moving average is $206.01. Atlassian Co. has a 52-week low of $145.21 and a 52-week high of $258.69. The firm has a market capitalization of $46.35 billion, a price-to-earnings ratio of -282.62 and a beta of 0.67. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter in the prior year, the company earned ($0.40) EPS. The company's revenue was up 29.9% compared to the same quarter last year. On average, equities research analysts forecast that Atlassian Co. will post -0.29 EPS for the current fiscal year.

Insider Transactions at Atlassian

In other news, President Anutthara Bharadwaj sold 1,520 shares of the company's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $201.05, for a total value of $305,596.00. Following the completion of the sale, the president now owns 163,370 shares of the company's stock, valued at approximately $32,845,538.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Gene Liu sold 199 shares of the business's stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $184.25, for a total transaction of $36,665.75. Following the completion of the transaction, the chief accounting officer now owns 45,666 shares in the company, valued at approximately $8,413,960.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $201.05, for a total transaction of $305,596.00. Following the transaction, the president now owns 163,370 shares of the company's stock, valued at approximately $32,845,538.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 294,224 shares of company stock valued at $57,143,630. Company insiders own 40.48% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TEAM. Oppenheimer reduced their price target on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, April 26th. StockNews.com upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a report on Monday, April 29th. Canaccord Genuity Group reduced their target price on shares of Atlassian from $260.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, April 26th. UBS Group reduced their target price on shares of Atlassian from $260.00 to $250.00 and set a "neutral" rating on the stock in a report on Friday, February 2nd. Finally, Citigroup reduced their target price on shares of Atlassian from $280.00 to $265.00 and set a "buy" rating on the stock in a report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $223.22.

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.