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

Asset Management One Co. Ltd. lifted its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 17.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,226 shares of the technology company's stock after buying an additional 10,184 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Atlassian were worth $17,064,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock worth $71,000 after purchasing an additional 54 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in Atlassian by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company's stock worth $544,000 after purchasing an additional 70 shares during the period. Brown Brothers Harriman & Co. boosted its position in Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company's stock valued at $69,000 after acquiring an additional 82 shares in the last quarter. Perigon Wealth Management LLC boosted its position in Atlassian by 2.2% during the 4th quarter. Perigon Wealth Management LLC now owns 3,789 shares of the technology company's stock valued at $963,000 after acquiring an additional 83 shares in the last quarter. Finally, Commerce Bank boosted its position in Atlassian by 1.8% during the 3rd quarter. Commerce Bank now owns 4,966 shares of the technology company's stock valued at $789,000 after acquiring an additional 90 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $264.20, for a total value of $2,099,861.60. Following the transaction, the director now directly owns 190,752 shares in the company, valued at approximately $50,396,678.40. This represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the company's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $243.55, for a total value of $3,871,470.80. Following the completion of the transaction, the chief executive officer now owns 429,192 shares in the company, valued at $104,529,711.60. This represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 265,830 shares of company stock worth $72,193,305. Insiders own 38.55% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company increased their target price on Atlassian from $350.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. The Goldman Sachs Group increased 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. Canaccord Genuity Group increased their target price on Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Piper Sandler raised their price objective on Atlassian from $310.00 to $365.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Barclays raised their price objective on Atlassian from $275.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $319.71.

Atlassian Price Performance

Shares of Atlassian stock traded down $11.72 on Wednesday, hitting $303.72. The company's stock had a trading volume of 2,331,829 shares, compared to its average volume of 2,076,812. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The firm has a fifty day moving average price of $270.89 and a 200-day moving average price of $219.37. The company has a market capitalization of $79.57 billion, a price-to-earnings ratio of -226.66 and a beta of 0.87.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) 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%. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.