American Century Companies Inc. Has $43.70 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

American Century Companies Inc. cut its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 17.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 179,573 shares of the technology company's stock after selling 37,480 shares during the quarter. American Century Companies Inc. owned about 0.07% of Atlassian worth $43,704,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in Atlassian in the third quarter worth $606,000. Fulton Bank N.A. bought a new position in shares of Atlassian during the 4th quarter worth about $447,000. Paloma Partners Management Co bought a new stake in shares of Atlassian in the 3rd quarter worth approximately $1,588,000. Allworth Financial LP increased its position in shares of Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after purchasing an additional 47 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of Atlassian by 20.1% in the fourth quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company's stock valued at $7,458,000 after purchasing an additional 5,088 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $242.27, for a total transaction of $1,925,561.96. Following the completion of the sale, the chief executive officer now owns 476,880 shares of the company's stock, valued at approximately $115,533,717.60. The trade was a 1.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the transaction, the president now directly owns 210,471 shares in the company, valued at approximately $54,690,889.35. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 263,033 shares of company stock valued at $70,403,022 over the last 90 days. 38.55% of the stock is currently owned by insiders.

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Analyst Ratings Changes

Several brokerages have issued reports on TEAM. The Goldman Sachs Group boosted their price target on shares of Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Mizuho raised their price target on shares of Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. JMP Securities reaffirmed a "market perform" rating on shares of Atlassian in a report on Friday, January 31st. Stephens started coverage on Atlassian in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $255.00 target price for the company. Finally, Piper Sandler boosted their price target on Atlassian from $310.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $314.73.

Atlassian Stock Down 1.7 %

Shares of NASDAQ TEAM traded down $3.64 during mid-day trading on Tuesday, hitting $208.58. The company had a trading volume of 235,651 shares, compared to its average volume of 2,189,156. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company has a market capitalization of $54.65 billion, a PE ratio of -155.76 and a beta of 0.91. 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 50-day simple moving average of $268.47 and a two-hundred day simple moving average of $239.44.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results 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%. On average, equities analysts expect that Atlassian Co. will post -0.34 EPS 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.