Mariner LLC Has $2.44 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

Mariner LLC raised its position in Atlassian Co. (NASDAQ:TEAM) by 19.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,036 shares of the technology company’s stock after purchasing an additional 1,634 shares during the period. Mariner LLC’s holdings in Atlassian were worth $2,443,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Atlassian by 72.9% during 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 acquiring an additional 1,806,042 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Atlassian in the 4th quarter valued at about $687,486,000. Invesco Ltd. boosted its position in shares of Atlassian by 265.9% during the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock valued at $595,171,000 after purchasing an additional 1,777,179 shares in the last quarter. Geode Capital Management LLC grew its stake in Atlassian by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company’s stock worth $528,851,000 after purchasing an additional 27,899 shares during the period. Finally, Norges Bank bought a new stake in Atlassian in the fourth quarter worth approximately $296,697,000. 94.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $185.61, for a total transaction of $1,475,228.28. Following the completion of the sale, the director now owns 333,816 shares of the company’s stock, valued at $61,959,587.76. This represents a 2.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Gene Liu sold 779 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the transaction, the chief accounting officer now owns 52,710 shares in the company, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 261,513 shares of company stock worth $66,621,566 in the last 90 days. 38.55% of the stock is owned by company insiders.

Atlassian Price Performance

Atlassian stock opened at $200.30 on Wednesday. The stock has a market cap of $52.48 billion, a price-to-earnings ratio of -149.48 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The business has a 50-day simple moving average of $234.84 and a 200 day simple moving average of $243.17. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Oppenheimer raised their price objective on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. BMO Capital Markets decreased their price target on shares of Atlassian from $360.00 to $295.00 and set an “outperform” rating for the company in a research note on Thursday, April 10th. Mizuho increased their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. Finally, Cantor Fitzgerald raised Atlassian from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $297.73.

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.