Natixis Advisors LLC Reduces Position in Atlassian Co. (NASDAQ:TEAM)

Natixis Advisors LLC lessened its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 10.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,237 shares of the technology company’s stock after selling 13,085 shares during the period. Natixis Advisors LLC’s holdings in Atlassian were worth $17,189,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake in Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after acquiring an additional 904,138 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Atlassian by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after buying an additional 78,454 shares during the period. Dragoneer Investment Group LLC purchased a new stake in shares of Atlassian in the 2nd quarter valued at approximately $469,803,000. Capital International Investors grew its stake in shares of Atlassian by 6.3% in the 1st quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock valued at $475,399,000 after buying an additional 144,117 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Atlassian by 5.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,124,544 shares of the technology company’s stock valued at $219,410,000 after buying an additional 58,991 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Insider Activity at Atlassian

In related news, CAO Gene Liu sold 785 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $240.00, for a total value of $188,400.00. Following the transaction, the chief accounting officer now directly owns 57,938 shares of the company’s stock, valued at $13,905,120. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $244.84, for a total transaction of $1,945,988.32. Following the transaction, the director now directly owns 270,232 shares in the company, valued at $66,163,602.88. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,248 shares of company stock valued at $46,207,176 in the last ninety days. Insiders own 38.55% of the company’s stock.

Atlassian Price Performance

Shares of TEAM opened at $247.73 on Wednesday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The firm’s fifty day simple moving average is $189.47 and its 200-day simple moving average is $175.00. The firm has a market capitalization of $64.52 billion, a price-to-earnings ratio of -161.20 and a beta of 0.71. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the business earned ($0.07) EPS. The company’s revenue was up 21.5% on a year-over-year basis. Equities analysts forecast that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the subject of several analyst reports. KeyCorp raised shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target for the company in a research note on Friday, November 1st. BMO Capital Markets increased their price target on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. JMP Securities upgraded shares of Atlassian to a “hold” rating in a report on Friday, August 2nd. Finally, Raymond James upped their price objective on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $244.21.

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.