Atlassian Co. (NASDAQ:TEAM) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. reduced its position in Atlassian Co. (NASDAQ:TEAM) by 27.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 315 shares of the technology company’s stock after selling 121 shares during the period. Brown Brothers Harriman & Co.’s holdings in Atlassian were worth $77,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEAM. JPMorgan Chase & Co. boosted its holdings in Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares during the last quarter. State Street Corp raised its position in shares of Atlassian by 0.3% in the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after purchasing an additional 8,957 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Atlassian by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock valued at $340,453,000 after buying an additional 57,911 shares during the last quarter. Norges Bank acquired a new stake in shares of Atlassian during the fourth quarter worth approximately $296,697,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Atlassian by 2.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,182,373 shares of the technology company’s stock worth $187,773,000 after buying an additional 22,936 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the transaction, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares of the company’s stock, valued at approximately $54,690,889.35. This trade represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 270,981 shares of company stock worth $72,069,956 in the last three months. 38.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TEAM. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a research note on Monday. Piper Sandler boosted their price target on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup upped their price target on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Cantor Fitzgerald lifted their price objective on shares of Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Barclays increased their target price on shares of Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $310.18.

Atlassian Stock Performance

Shares of TEAM opened at $216.41 on Wednesday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $56.70 billion, a PE ratio of -161.50 and a beta of 0.91. The company’s 50 day moving average price is $267.68 and its 200 day moving average price is $239.81.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Research analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

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.