Mitsubishi UFJ Asset Management Co. Ltd. Has $32.06 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Atlassian Co. (NASDAQ:TEAM) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 128,099 shares of the technology company’s stock after purchasing an additional 12,952 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Atlassian were worth $32,059,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian during the fourth quarter worth approximately $27,000. True Wealth Design LLC increased its stake in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares during the period. Avion Wealth raised its holdings in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after acquiring an additional 157 shares in the last quarter. Assetmark Inc. lifted its position in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after acquiring an additional 41 shares during the period. Finally, Mainstream Capital Management LLC bought a new position in shares of Atlassian in the fourth quarter worth $49,000. Institutional investors own 94.45% of the company’s stock.

Atlassian Stock Performance

Shares of Atlassian stock opened at $217.99 on Friday. The business has a 50-day moving average price of $269.28 and a two-hundred day moving average price of $238.60. Atlassian Co. has a 1-year low of $135.29 and a 1-year 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 company has a market cap of $57.11 billion, a P/E ratio of -162.68 and a beta of 0.91.

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Scotiabank raised their target price on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. UBS Group boosted their price objective on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Macquarie raised their target price on Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, February 7th. KeyCorp boosted their price target on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group lifted their target price on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $316.77.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $322.31, for a total value of $2,561,719.88. Following the transaction, the chief executive officer now owns 270,232 shares in the company, valued at approximately $87,098,475.92. This represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph Leo Binz sold 2,587 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.09, for a total value of $807,376.83. Following the sale, the chief financial officer now owns 169,342 shares of the company’s stock, valued at approximately $52,849,944.78. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,033 shares of company stock worth $70,644,164 in the last quarter. Company insiders own 38.55% of the company’s stock.

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.