Atlassian Co. (NASDAQ:TEAM) Shares Purchased 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 fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 128,099 shares of the technology company's stock after purchasing an additional 12,952 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Atlassian were worth $32,059,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TEAM. Corebridge Financial Inc. raised its stake in Atlassian by 0.3% in the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after buying an additional 35 shares in the last quarter. Assetmark Inc. raised 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 worth $43,000 after acquiring an additional 41 shares in the last quarter. Allworth Financial LP lifted its stake in Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after purchasing an additional 47 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Atlassian by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock valued at $71,000 after purchasing an additional 54 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Atlassian by 4.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company's stock valued at $357,000 after purchasing an additional 56 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Trading Down 12.2 %

Shares of TEAM stock traded down $27.41 during mid-day trading on Thursday, hitting $196.55. 1,001,799 shares of the company's stock were exchanged, compared to its average volume of 1,983,017. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market cap of $51.50 billion, a price-to-earnings ratio of -146.68 and a beta of 1.07. The stock has a 50-day simple moving average of $266.94 and a two-hundred day simple moving average of $239.70. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

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 net margin of 7.22% and a negative return on equity of 17.37%. Equities analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $254.95, for a total transaction of $2,026,342.60. Following the sale, the chief executive officer now directly owns 460,984 shares in the company, valued at approximately $117,527,870.80. This trade represents a 1.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the transaction, the president now directly owns 210,471 shares in the company, valued at $54,690,889.35. This trade 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 $70,144,394 over the last ninety days. Corporate insiders own 38.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Mizuho upped their target price on shares of Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Citigroup increased their price objective on Atlassian from $255.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Stephens began coverage on shares of Atlassian in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $255.00 price objective on the stock. William Blair reissued an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Cantor Fitzgerald upgraded shares of Atlassian from a "neutral" rating to an "overweight" rating and cut their price target for the company from $304.00 to $272.00 in a report on Wednesday. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $308.73.

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.