Baillie Gifford & Co. Sells 392,980 Shares of Atlassian Co. (NASDAQ:TEAM)

Baillie Gifford & Co. lowered its position in Atlassian Co. (NASDAQ:TEAM) by 4.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,121,059 shares of the technology company’s stock after selling 392,980 shares during the quarter. Atlassian accounts for about 1.5% of Baillie Gifford & Co.’s investment portfolio, making the stock its 18th biggest holding. Baillie Gifford & Co.’s holdings in Atlassian were worth $1,976,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. State Street Corp grew its holdings in Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after purchasing an additional 8,957 shares during the period. JPMorgan Chase & Co. grew its holdings in Atlassian by 5.6% during 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 during the period. FMR LLC boosted its stake in shares of Atlassian by 7.4% in the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after acquiring an additional 150,237 shares during the period. Geode Capital Management LLC boosted its stake in shares of Atlassian by 2.8% in the third quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock worth $340,453,000 after acquiring an additional 57,911 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Atlassian by 5.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,210,351 shares of the technology company’s stock worth $192,216,000 after acquiring an additional 58,536 shares during the period. Institutional investors own 94.45% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $313.10 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average price is $270.09 and its 200-day moving average price is $218.39. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. As a group, equities research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TEAM shares. Wells Fargo & Company upped their price objective on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Piper Sandler upped their price objective on Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Scotiabank upped their price objective on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Finally, Raymond James reiterated an “outperform” rating and issued a $330.00 target price (up from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $319.71.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 1,659 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total value of $407,798.79. Following the transaction, the president now owns 213,511 shares of the company’s stock, valued at $52,483,138.91. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gene Liu sold 165 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total value of $40,563.60. Following the completion of the transaction, the chief accounting officer now directly owns 56,423 shares in the company, valued at approximately $13,871,030.32. This trade represents a 0.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 277,276 shares of company stock worth $74,998,903. 38.55% of the stock is currently owned by company 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.