Natixis Raises Stock Position in Atlassian Co. (NASDAQ:TEAM)

Natixis grew its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 126.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,987 shares of the technology company's stock after buying an additional 5,025 shares during the quarter. Natixis' holdings in Atlassian were worth $2,187,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TEAM. Murphy & Mullick Capital Management Corp purchased a new stake in Atlassian in the 4th quarter valued at about $27,000. Summit Securities Group LLC purchased a new stake in shares of Atlassian in the fourth quarter valued at approximately $38,000. Pilgrim Partners Asia Pte Ltd bought a new position in Atlassian in the fourth quarter worth approximately $39,000. Avion Wealth increased its holdings in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after purchasing an additional 157 shares during the period. Finally, Assetmark Inc. raised its position in Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after purchasing an additional 41 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded down $0.78 during trading on Monday, hitting $227.90. The stock had a trading volume of 516,702 shares, compared to its average volume of 2,043,361. The stock has a 50-day simple moving average of $229.25 and a two-hundred day simple moving average of $244.62. The stock has a market capitalization of $59.71 billion, a price-to-earnings ratio of -169.72 and a beta of 1.07. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

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

Insider Buying and Selling at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.58, for a total value of $475,121.60. Following the completion of the transaction, the president now directly owns 201,657 shares of the company's stock, valued at approximately $63,033,945.06. The trade was a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $308.86, for a total transaction of $2,454,819.28. Following the sale, the director now directly owns 317,920 shares in the company, valued at $98,192,771.20. The trade was a 2.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 253,565 shares of company stock worth $64,045,540. Insiders own 38.55% of the company's stock.

Analysts Set New Price Targets

TEAM has been the topic of several research reports. William Blair restated an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Macquarie raised shares of Atlassian from a "neutral" rating to an "outperform" rating and cut their target price for the company from $317.00 to $270.00 in a research report on Thursday, April 10th. Jefferies Financial Group lowered their price target on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Barclays lifted their price objective on shares of Atlassian from $275.00 to $350.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, StockNews.com lowered Atlassian from a "buy" rating to a "hold" rating in a report on Monday, March 31st. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $301.90.

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.