Asset Management One Co. Ltd. Cuts Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Asset Management One Co. Ltd. decreased its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 4.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,042 shares of the technology company's stock after selling 2,435 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Atlassian were worth $9,218,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TEAM. Dragoneer Investment Group LLC bought a new stake in shares of Atlassian during the 2nd quarter valued at $469,803,000. Price T Rowe Associates Inc. MD raised its stake in shares of Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company's stock worth $2,173,847,000 after buying an additional 904,138 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Atlassian during the 2nd quarter valued at about $91,072,000. Quadrature Capital Ltd bought a new position in shares of Atlassian during the 1st quarter valued at approximately $55,307,000. Finally, Swedbank AB purchased a new stake in Atlassian in the 1st quarter worth approximately $50,923,000. 93.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Atlassian

In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was 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 of the company's stock, valued at approximately $18,838,038.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the transaction, the chief technology officer now owns 128,957 shares of the company's stock, valued at $18,838,038.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the business's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now directly owns 143,966 shares of the company's stock, valued at approximately $23,482,294.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 237,714 shares of company stock worth $42,769,057 over the last 90 days. Company insiders own 38.55% of the company's stock.

Wall Street Analyst Weigh In

TEAM has been the subject of a number of recent analyst reports. Canaccord Genuity Group upped their price target on shares of Atlassian from $225.00 to $255.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Wells Fargo & Company upped their target price on shares of Atlassian from $250.00 to $300.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. UBS Group raised their price target on Atlassian from $180.00 to $205.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Piper Sandler upped their price objective on Atlassian from $225.00 to $265.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Finally, StockNews.com cut Atlassian from a "buy" rating to a "hold" rating in a research report on Friday, July 12th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $243.16.

Atlassian Price Performance

NASDAQ:TEAM traded up $3.84 during midday trading on Friday, hitting $237.80. 2,504,093 shares of the company traded hands, compared to its average volume of 1,848,136. The firm's fifty day moving average is $178.12 and its 200-day moving average is $172.33. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. 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 (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion for 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 for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. On average, analysts expect that Atlassian Co. will post -0.58 earnings per share for the current fiscal 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.