Natixis Investment Managers International Sells 61 Shares of Atlassian Co. (NASDAQ:TEAM)

Natixis Investment Managers International decreased its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 9.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 586 shares of the technology company’s stock after selling 61 shares during the period. Natixis Investment Managers International’s holdings in Atlassian were worth $114,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Atlassian by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after buying an additional 221,650 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Atlassian by 3.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock valued at $2,435,095,000 after buying an additional 326,673 shares in the last quarter. WCM Investment Management LLC raised its position in shares of 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 in the last quarter. 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. raised its position in shares of Atlassian by 7.9% in the 4th quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company’s stock valued at $826,113,000 after buying an additional 255,653 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TEAM shares. Truist Financial dropped their target price on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company lowered their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Robert W. Baird lowered their price objective on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Finally, Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $228.81.

Insider Activity

In other news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $177.14, for a total value of $1,459,810.74. Following the sale, the chief executive officer now directly owns 341,727 shares of the company’s stock, valued at approximately $60,533,520.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $169.47, for a total transaction of $1,346,947.56. Following the transaction, the chief executive officer now directly owns 373,556 shares of the company’s stock, valued at $63,306,535.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $177.14, for a total transaction of $1,459,810.74. Following the transaction, the chief executive officer now directly owns 341,727 shares in the company, valued at $60,533,520.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 284,405 shares of company stock valued at $49,322,819. 40.48% of the stock is currently owned by insiders.

Atlassian Trading Up 6.3 %

NASDAQ TEAM traded up $10.62 on Thursday, hitting $178.22. The company’s stock had a trading volume of 2,336,933 shares, compared to its average volume of 1,710,831. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a 1-year low of $152.34 and a 1-year high of $258.69. The company’s 50-day moving average is $170.32 and its 200 day moving average is $194.72. The firm has a market cap of $46.39 billion, a PE ratio of -283.87 and a beta of 0.74.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the firm posted ($0.40) EPS. The company’s quarterly revenue was up 29.9% on a year-over-year basis. As a group, analysts predict that Atlassian Co. will post -0.22 earnings per share 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.