USS Investment Management Ltd Sells 3,044 Shares of Atlassian Co. (NASDAQ:TEAM)

USS Investment Management Ltd decreased its position in Atlassian Co. (NASDAQ:TEAM) by 9.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 28,537 shares of the technology company’s stock after selling 3,044 shares during the period. USS Investment Management Ltd’s holdings in Atlassian were worth $6,941,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after purchasing an additional 131,621 shares in the last quarter. Merit Financial Group LLC bought a new stake in Atlassian during the fourth quarter worth about $726,000. HB Wealth Management LLC boosted its position in Atlassian by 17.9% during the fourth quarter. HB Wealth Management LLC now owns 1,502 shares of the technology company’s stock valued at $366,000 after purchasing an additional 228 shares during the last quarter. Aaron Wealth Advisors LLC bought a new position in Atlassian in the fourth quarter valued at approximately $228,000. Finally, Harbor Investment Advisory LLC grew its stake in Atlassian by 1,878.3% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,187 shares of the technology company’s stock valued at $289,000 after purchasing an additional 1,127 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $209.17 on Thursday. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company’s 50 day moving average price is $213.33 and its two-hundred day moving average price is $247.04. The firm has a market cap of $54.91 billion, a PE ratio of -156.10 and a beta of 1.06. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.89 earnings per share. Equities research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Gene Liu sold 541 shares of Atlassian stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total value of $122,000.91. Following the transaction, the chief accounting officer now directly owns 51,481 shares of the company’s stock, valued at $11,609,480.31. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $289.77, for a total value of $2,303,091.96. Following the sale, the director now owns 182,804 shares of the company’s stock, valued at $52,971,115.08. The trade was a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 287,055 shares of company stock valued at $63,723,335 over the last quarter. 38.55% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on TEAM. KeyCorp cut their price objective on Atlassian from $365.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Piper Sandler reiterated an “overweight” rating and issued a $300.00 price target (down previously from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. UBS Group decreased their price objective on shares of Atlassian from $230.00 to $215.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Robert W. Baird upgraded shares of Atlassian from a “neutral” rating to an “outperform” rating and cut their target price for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Finally, William Blair reiterated an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $285.29.

About Atlassian

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.