Clearbridge Investments LLC Decreases Stake in Atlassian Corp.
December 4, 2023
🌥️Trending News
Clearbridge Investments LLC has recently reduced its stake in Atlassian Corp ($NASDAQ:TEAM)., a technology company specializing in software development and collaboration tools. The company is best known for the cloud-based collaboration platform JIRA, as well as the development platform Confluence and the project management tool Trello. Atlassian also offers communication and collaboration tools such as Stride and HipChat. Clearbridge Investments LLC is a subsidiary of Legg Mason, Inc., an asset management firm.
It has a long history of investing in technology stocks, and its decision to reduce its stake in Atlassian Corp. is an indication of its confidence in the long-term performance of the company. Despite the reduction in stake, Clearbridge remains the largest institutional investor in Atlassian Corp.
Share Price
On Friday, Clearbridge Investments LLC announced that it had decreased its stake in Atlassian Corp. Despite the news, the stock opened at $179.7 and closed at $181.6, up by 0.6% from its last closing price of 180.6. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Atlassian Corp. More…
| Total Revenues | Net Income | Net Margin |
| 3.71k | -504.9 | -13.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Atlassian Corp. More…
| Operations | Investing | Financing |
| 942.62 | -51.92 | -215.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Atlassian Corp. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.08k | 3.31k | 3 |
Key Ratios Snapshot
Some of the financial key ratios for Atlassian Corp are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 29.4% | – | -7.6% |
| FCF Margin | ROE | ROA |
| 25.1% | -24.8% | -4.3% |
Analysis
As GoodWhale, we recently conducted an analysis of the wellbeing of ATLASSIAN CORP. After assessing the Star Chart, we determined that ATLASSIAN CORP is classified as a ‘gorilla’, suggesting that it has achieved stable and high revenue or earnings growth due to its strong competitive advantage. We think this would pique the interest of investors seeking such a strong and established company. Furthermore, ATLASSIAN CORP has a high health score of 8/10 with regard to its cashflows and debt. This high score indicates that the company is capable of maintaining its current operations even in times of crisis. Additionally, ATLASSIAN CORP is strong in growth and profitability, medium in asset, and weak in dividend. These factors are likely to further draw investors to the company. More…
Peers
Atlassian Corporation PLC, Microsoft Corp, DocuSign Inc, and Salesforce Inc are all vying for a spot in the top software company. While Atlassian Corporation PLC may be the current leader, the competition is fierce and any of the companies could take the top spot. All four companies offer a variety of software products and services that are essential for businesses of all sizes. The products and services offered by these companies help businesses to run more efficiently and connect with customers.
– Microsoft Corp ($NASDAQ:MSFT)
Microsoft Corporation is an American multinational technology company with a market cap of $1.76 trillion and a return on equity of 45.3%. The company develops, manufactures, licenses, supports, and sells computer software, consumer electronics, personal computers, and related services. Its best known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers.
– DocuSign Inc ($NASDAQ:DOCU)
DocuSign Inc. is an American company that provides electronic signature technology and digital transaction management services for facilitating electronic exchanges of contracts and other documents. The company has a market capitalization of $9.35 billion as of May 2021 and a negative return on equity of 15.28%. DocuSign’s revenue for the fiscal year 2020 was $1.1 billion, an increase of 47% from the previous fiscal year. The company’s primary competitors include Adobe Sign, HelloSign, and eSignLive.
– Salesforce Inc ($NYSE:CRM)
Salesforce Inc.’s market cap as of 2022 is 153.67B. The company’s ROE for the same year is 0.08%. Salesforce Inc. is a cloud-based software company that provides customer relationship management (CRM) and enterprise cloud computing services.
Summary
Analysts at Clearbridge Investments LLC recently decreased their stake in Atlassian Corp., a software company specializing in project management, collaboration, and software development products. Analysts are citing recent developments in the company’s revenue cycle and issues with its products as potential causes for the decline in share price. While analysts remain divided on the stock’s future performance, it will be important to keep an eye on the company’s upcoming quarterly earnings report in July as it will offer more insight into the direction of the company’s stock.
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