Atlassian Co. (NASDAQ:TEAM) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. cut its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,334 shares of the technology company’s stock after selling 113 shares during the period. E Fund Management Co. Ltd.’s holdings in Atlassian were worth $317,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new stake in shares of Atlassian in the 3rd quarter valued at approximately $26,000. Carmel Capital Partners LLC increased its stake in shares of Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after purchasing an additional 57 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after purchasing an additional 271 shares during the last quarter. Operose Advisors LLC acquired a new position in shares of Atlassian during the 3rd quarter worth $99,000. Finally, GAMMA Investing LLC acquired a new position in shares of Atlassian during the 4th quarter worth $107,000. 93.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. UBS Group lowered their target price on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Piper Sandler lowered their target price on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Wells Fargo & Company increased their price target on shares of Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. TD Cowen reduced their price objective on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a report on Friday, April 26th. Finally, Robert W. Baird reduced their price objective on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $223.22.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $182.45, for a total value of $1,503,570.45. Following the transaction, the chief executive officer now directly owns 300,522 shares of the company’s stock, valued at approximately $54,830,238.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Anutthara Bharadwaj sold 4,139 shares of the business’s stock in a transaction that occurred 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 transaction, the president now directly owns 167,535 shares of the company’s stock, valued at $35,663,175.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $182.45, for a total value of $1,503,570.45. Following the completion of the sale, the chief executive officer now directly owns 300,522 shares in the company, valued at $54,830,238.90. The disclosure for this sale can be found here. Insiders sold 300,450 shares of company stock worth $59,641,278 in the last quarter. 40.48% of the stock is owned by insiders.

Atlassian Stock Performance

Shares of Atlassian stock traded up $1.33 during trading hours on Thursday, hitting $179.85. 776,765 shares of the company’s stock traded hands, compared to its average volume of 1,746,314. Atlassian Co. has a 12-month low of $132.32 and a 12-month high of $258.69. The stock has a market capitalization of $46.81 billion, a price-to-earnings ratio of -285.48 and a beta of 0.67. The company has a fifty day simple moving average of $195.77 and a 200-day simple moving average of $205.78. 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 (NASDAQ:TEAM) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.62 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The firm’s revenue was up 29.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.40) EPS. Equities research analysts anticipate that Atlassian Co. will post -0.29 EPS for the current fiscal year.

About Atlassian

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.