Atlassian Co. (NASDAQ:TEAM) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 11.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,099 shares of the technology company's stock after acquiring an additional 12,952 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Atlassian were worth $32,059,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TEAM. Point72 Asset Management L.P. lifted its holdings in Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company's stock valued at $110,972,000 after acquiring an additional 617,566 shares during the period. Two Sigma Advisers LP increased its holdings in shares of Atlassian by 122.0% in the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company's stock valued at $159,382,000 after purchasing an additional 551,500 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Atlassian by 12,047.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company's stock valued at $55,521,000 after purchasing an additional 226,246 shares during the period. Fisher Funds Management LTD purchased a new stake in Atlassian during the fourth quarter worth about $47,469,000. Finally, PointState Capital LP purchased a new position in Atlassian in the third quarter valued at about $30,566,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

TEAM has been the topic of several research analyst reports. StockNews.com lowered Atlassian from a "buy" rating to a "hold" rating in a research note on Monday. The Goldman Sachs Group upped their target price on Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Morgan Stanley lifted their price target on Atlassian from $315.00 to $370.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Piper Sandler increased their price objective on shares of Atlassian from $310.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, BMO Capital Markets upgraded shares of Atlassian from a "market perform" rating to an "outperform" rating and raised their target price for the company from $255.00 to $292.00 in a report on Friday, January 10th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $310.18.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction on Friday, March 28th. The shares were sold at an average price of $216.63, for a total value of $1,721,775.24. Following the completion of the transaction, the chief executive officer now directly owns 7,948 shares in the company, valued at approximately $1,721,775.24. This represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joseph Leo Binz sold 2,587 shares of Atlassian stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.09, for a total transaction of $807,376.83. Following the sale, the chief financial officer now directly owns 169,342 shares in the company, valued at $52,849,944.78. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 263,033 shares of company stock worth $70,403,022. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Trading Up 2.0 %

TEAM traded up $4.20 during trading on Tuesday, hitting $216.41. 2,424,840 shares of the company's stock were exchanged, compared to its average volume of 1,980,175. The stock has a 50 day moving average price of $268.47 and a 200 day moving average price of $239.44. 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 firm has a market cap of $56.70 billion, a P/E ratio of -161.50 and a beta of 0.91.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly 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 expect that Atlassian Co. will post -0.34 EPS 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.