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Los Angeles Capital Management LLC Decreases Stock Position in Atlassian Co. (NASDAQ:TEAM)

Atlassian logo with Computer and Technology background

Los Angeles Capital Management LLC trimmed its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 81.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,261 shares of the technology company's stock after selling 123,760 shares during the quarter. Los Angeles Capital Management LLC's holdings in Atlassian were worth $5,319,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Atlassian by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company's stock worth $3,652,495,000 after purchasing an additional 504,181 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Atlassian by 3.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company's stock worth $2,435,095,000 after buying an additional 326,673 shares in the last quarter. WCM Investment Management LLC increased its holdings in Atlassian by 2.7% in the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company's stock valued at $2,325,490,000 after buying an additional 249,017 shares during the period. Baillie Gifford & Co. raised its position in shares of Atlassian by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company's stock valued at $2,094,980,000 after buying an additional 1,511,318 shares in the last quarter. Finally, Brown Advisory Inc. lifted its holdings in shares of Atlassian by 7.9% during the 4th quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company's stock worth $826,113,000 after acquiring an additional 255,653 shares during the period. Institutional investors and hedge funds own 93.03% of the company's stock.


Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm's stock in a transaction on Monday, March 25th. The shares were sold at an average price of $192.21, for a total value of $1,584,002.61. Following the completion of the sale, the chief executive officer now directly owns 24,723 shares in the company, valued at $4,752,007.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the business's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $192.21, for a total transaction of $1,584,002.61. Following the completion of the sale, the chief executive officer now owns 24,723 shares in the company, valued at $4,752,007.83. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the company's stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $193.63, for a total value of $147,158.80. Following the transaction, the president now directly owns 162,610 shares in the company, valued at $31,486,174.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,318 shares of company stock valued at $49,526,292. 40.48% of the stock is currently owned by company insiders.

Atlassian Trading Up 3.1 %

NASDAQ TEAM traded up $4.94 during mid-day trading on Friday, reaching $162.46. 3,450,035 shares of the stock were exchanged, compared to its average volume of 1,759,732. The stock has a market cap of $42.29 billion, a P/E ratio of -257.87 and a beta of 0.73. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a one year low of $152.34 and a one year high of $258.69. The stock has a 50 day simple moving average of $174.51 and a 200-day simple moving average of $202.26.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.95% and a negative net margin of 3.90%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company posted ($0.40) EPS. The business's quarterly revenue was up 29.9% on a year-over-year basis. On average, analysts anticipate that Atlassian Co. will post -0.21 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on TEAM. Barclays upgraded shares of Atlassian from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. Citigroup dropped their price objective on Atlassian from $280.00 to $265.00 and set a "buy" rating for the company in a research report on Friday, April 12th. StockNews.com upgraded Atlassian from a "hold" rating to a "buy" rating in a research report on Friday, June 7th. Wells Fargo & Company dropped their target price on shares of Atlassian from $285.00 to $250.00 and set an "overweight" rating for the company in a report on Friday. Finally, Canaccord Genuity Group decreased their price target 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. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Atlassian has a consensus rating of "Moderate Buy" and an average price target of $221.28.

Check Out Our Latest Stock Analysis on Atlassian

Atlassian Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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