Atlassian Co. (NASDAQ:TEAM) Shares Sold by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lessened its position in shares of Atlassian Co. (NASDAQ:TEAM) by 4.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 58,042 shares of the technology company’s stock after selling 2,435 shares during the period. Asset Management One Co. Ltd.’s holdings in Atlassian were worth $9,218,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TEAM. Dragoneer Investment Group LLC acquired a new position in Atlassian during the 2nd quarter worth approximately $469,803,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Atlassian by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after buying an additional 904,138 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Atlassian in the 2nd quarter valued at $91,072,000. Quadrature Capital Ltd acquired a new position in shares of Atlassian in the 1st quarter valued at $55,307,000. Finally, Swedbank AB acquired a new position in shares of Atlassian in the 1st quarter valued at $50,923,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Barclays lowered their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Robert W. Baird upped their target price on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Mizuho upped their target price on shares of Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Scotiabank increased their price target on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.16.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $151.62, for a total value of $1,205,075.76. Following the completion of the transaction, the chief executive officer now owns 238,440 shares in the company, valued at $36,152,272.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $151.62, for a total value of $1,205,075.76. Following the sale, the chief executive officer now directly owns 238,440 shares of the company’s stock, valued at approximately $36,152,272.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the sale, the chief technology officer now directly owns 128,957 shares in the company, valued at approximately $18,838,038.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 237,269 shares of company stock worth $42,666,707 in the last 90 days. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Up 3.7 %

Shares of Atlassian stock opened at $233.96 on Friday. The company has a market cap of $60.84 billion, a P/E ratio of -153.92 and a beta of 0.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The firm has a fifty day moving average of $178.12 and a two-hundred day moving average of $172.33.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) EPS. On average, analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current year.

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.