Nicholas Company Inc. Has $47.08 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Nicholas Company Inc. trimmed its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 19.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 193,429 shares of the technology company’s stock after selling 46,036 shares during the quarter. Nicholas Company Inc.’s holdings in Atlassian were worth $47,077,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp lifted its stake in shares of Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after buying an additional 8,957 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of 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. FMR LLC grew its holdings in Atlassian by 7.4% during the 3rd 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 grew its holdings in Atlassian by 2.8% during the 3rd 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 grew its holdings in Atlassian by 5.1% during the 3rd 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. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Up 5.0 %

Shares of TEAM opened at $218.44 on Friday. The firm has a market capitalization of $57.23 billion, a P/E ratio of -163.01 and a beta of 0.91. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a fifty day moving average price of $273.44 and a 200-day moving average price of $234.20.

Atlassian (NASDAQ:TEAM) last announced its 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 return on equity of 17.37% and a negative net margin of 7.22%. Equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 15,896 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the completion of the sale, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at $104,529,711.60. This trade represents a 3.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $218.05, for a total value of $1,733,061.40. Following the sale, the director now directly owns 119,220 shares of the company’s stock, valued at $25,995,921. The trade was a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 272,501 shares of company stock worth $74,167,124. Corporate insiders own 38.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TEAM. Citigroup lifted their price target on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. UBS Group boosted their price target on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. William Blair restated an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Barclays upped their price target on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Mizuho boosted their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Eight 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

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.