Atlassian Co. (NASDAQ:TEAM) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 54.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 252,593 shares of the technology company's stock after acquiring an additional 88,742 shares during the quarter. Russell Investments Group Ltd. owned about 0.10% of Atlassian worth $61,621,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Townsquare Capital LLC boosted its stake in Atlassian by 16.0% during the 3rd quarter. Townsquare Capital LLC now owns 1,338 shares of the technology company's stock worth $212,000 after purchasing an additional 185 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Atlassian by 4.2% in the 3rd quarter. Janus Henderson Group PLC now owns 15,550 shares of the technology company's stock valued at $2,469,000 after purchasing an additional 624 shares during the last quarter. Royal London Asset Management Ltd. grew its position in Atlassian by 2.1% in the third quarter. Royal London Asset Management Ltd. now owns 62,408 shares of the technology company's stock worth $9,911,000 after acquiring an additional 1,261 shares during the period. Quantinno Capital Management LP increased its position in shares of Atlassian by 121.0% during the 3rd quarter. Quantinno Capital Management LP now owns 13,381 shares of the technology company's stock worth $2,125,000 after purchasing an additional 7,327 shares during the last quarter. Finally, State Street Corp increased its position in shares of Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company's stock valued at $565,424,000 after acquiring an additional 8,957 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $236.89, for a total value of $1,882,801.72. Following the sale, the chief executive officer now owns 421,244 shares of the company's stock, valued at $99,788,491.16. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Gene Liu sold 568 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the sale, the chief accounting officer now owns 52,142 shares in the company, valued at $16,272,475.36. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,033 shares of company stock worth $68,608,284 over the last 90 days. Company insiders own 38.55% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Piper Sandler boosted their price objective on Atlassian from $310.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Macquarie upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and lowered their target price for the stock from $317.00 to $270.00 in a research note on Thursday. Scotiabank lifted their price target on Atlassian from $250.00 to $330.00 and gave the stock a "sector perform" rating in a report on Friday, January 31st. Truist Financial dropped their price objective on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Mizuho increased their price target on shares of Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Atlassian has a consensus rating of "Moderate Buy" and an average price target of $297.50.

Atlassian Stock Performance

Atlassian stock traded up $0.34 during trading hours on Friday, reaching $198.37. 2,003,551 shares of the stock were exchanged, compared to its average volume of 2,039,036. The stock has a market cap of $51.97 billion, a P/E ratio of -148.04 and a beta of 1.07. The firm's 50 day moving average is $251.13 and its 200 day moving average is $241.25. 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 52-week low of $135.29 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results 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%. Analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

About Atlassian

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.