Parnassus Investments LLC Has $79.19 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Parnassus Investments LLC grew its holdings in Atlassian Co. (NASDAQ:TEAM) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 325,367 shares of the technology company’s stock after buying an additional 4,127 shares during the quarter. Parnassus Investments LLC’s holdings in Atlassian were worth $79,188,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in TEAM. Principal Financial Group Inc. raised its stake in shares of Atlassian by 61.4% in the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock valued at $1,710,000 after buying an additional 4,099 shares in the last quarter. Venturi Wealth Management LLC raised its stake in shares of Atlassian by 18.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,411 shares of the technology company’s stock valued at $224,000 after buying an additional 221 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of Atlassian by 140.4% in the 3rd quarter. GSA Capital Partners LLP now owns 4,827 shares of the technology company’s stock worth $767,000 after purchasing an additional 2,819 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Atlassian by 1.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 366,254 shares of the technology company’s stock worth $58,165,000 after purchasing an additional 6,470 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Atlassian by 24.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 1,771 shares of the technology company’s stock worth $281,000 after purchasing an additional 347 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Down 8.1 %

Shares of NASDAQ TEAM opened at $208.00 on Friday. The firm has a market capitalization of $54.50 billion, a PE ratio of -155.22 and a beta of 0.91. The firm’s 50-day moving average is $274.08 and its 200-day moving average is $233.34. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data 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%. Equities analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Insider Buying and Selling

In other Atlassian news, CAO Gene Liu sold 779 shares of Atlassian stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $16,867,727.10. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $254.76, for a total transaction of $387,235.20. Following the completion of the transaction, the president now directly owns 211,991 shares in the company, valued at approximately $54,006,827.16. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 272,501 shares of company stock valued at $74,167,124 in the last 90 days. 38.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TEAM has been the topic of several analyst reports. Macquarie upped their target price on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Canaccord Genuity Group upped their target price on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Morgan Stanley increased their price objective on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Truist Financial reissued a “buy” rating and set a $350.00 price objective (up previously from $300.00) on shares of Atlassian in a report on Friday, January 31st. Finally, Mizuho increased their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $319.71.

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.