Jennison Associates LLC Sells 127 Shares of Atlassian Co. (NASDAQ:TEAM)

Jennison Associates LLC trimmed its position in shares of Atlassian Co. (NASDAQ:TEAM) by 7.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,516 shares of the technology company’s stock after selling 127 shares during the quarter. Jennison Associates LLC’s holdings in Atlassian were worth $361,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Graypoint LLC grew its stake in Atlassian by 2.4% during the fourth quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock worth $424,000 after buying an additional 42 shares during the last quarter. Legacy Wealth Asset Management LLC grew its stake in Atlassian by 1.4% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock worth $736,000 after buying an additional 43 shares during the last quarter. Park National Corp OH grew its stake in Atlassian by 3.5% during the fourth quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock worth $342,000 after buying an additional 48 shares during the last quarter. UMB Bank n.a. grew its stake in Atlassian by 5.7% during the fourth quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock worth $248,000 after buying an additional 56 shares during the last quarter. Finally, Carmel Capital Partners LLC grew its stake in Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after buying an additional 57 shares during the last quarter. 93.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on TEAM shares. Piper Sandler decreased their price target on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday. Canaccord Genuity Group decreased their price target on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $235.00 to $275.00 in a research note on Thursday, April 11th. Oppenheimer decreased their price target on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Citigroup decreased their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Hold” and an average target price of $223.22.

Insiders Place Their Bets

In related news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $199.71, for a total transaction of $1,645,810.11. Following the sale, the chief executive officer now directly owns 366,450 shares in the company, valued at $73,183,729.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Gene Liu sold 227 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $48,321.49. Following the sale, the chief accounting officer now directly owns 47,066 shares in the company, valued at $10,018,939.42. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $199.71, for a total transaction of $1,645,810.11. Following the sale, the chief executive officer now owns 366,450 shares in the company, valued at $73,183,729.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 292,209 shares of company stock worth $59,632,213. Company insiders own 40.48% of the company’s stock.

Atlassian Trading Down 9.6 %

TEAM opened at $179.45 on Monday. The firm’s fifty day moving average is $199.98 and its two-hundred day moving average is $206.59. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $46.55 billion, a PE ratio of -284.84 and a beta of 0.63. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. Equities research analysts anticipate that Atlassian Co. will post -0.42 EPS for the current year.

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.