DF Dent & Co. Inc. Trims Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

DF Dent & Co. Inc. lessened its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 313,307 shares of the technology company’s stock after selling 153,250 shares during the quarter. DF Dent & Co. Inc. owned approximately 0.12% of Atlassian worth $76,253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after buying an additional 1,806,042 shares in the last quarter. State Street Corp boosted its position in Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after acquiring an additional 8,957 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Atlassian in the 4th quarter worth approximately $687,486,000. Geode Capital Management LLC raised its holdings in Atlassian by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company’s stock valued at $528,851,000 after acquiring an additional 27,899 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Atlassian during the 4th quarter worth $296,697,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. William Blair reiterated an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a report on Monday. Cantor Fitzgerald upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $304.00 to $272.00 in a report on Wednesday. Stephens assumed coverage on shares of Atlassian in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $255.00 price target for the company. Finally, BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $255.00 to $292.00 in a report on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $308.73.

Atlassian Stock Performance

NASDAQ:TEAM opened at $223.96 on Thursday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The stock has a market cap of $58.68 billion, a P/E ratio of -167.13 and a beta of 1.07. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a 50-day moving average of $266.94 and a two-hundred day moving average of $239.70.

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

Insider Transactions at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $253.01, for a total transaction of $2,010,923.48. Following the completion of the transaction, the director now directly owns 389,452 shares of the company’s stock, valued at $98,535,250.52. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the sale, the chief executive officer now owns 429,192 shares in the company, valued at approximately $104,529,711.60. This trade represents a 3.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 263,033 shares of company stock valued at $70,144,394. 38.55% of the stock is currently owned by corporate insiders.

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.