Peregrine Capital Management LLC Sells 6,562 Shares of Atlassian Co. (NASDAQ:TEAM)

Peregrine Capital Management LLC decreased its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,787 shares of the technology company's stock after selling 6,562 shares during the period. Atlassian comprises about 1.0% of Peregrine Capital Management LLC's holdings, making the stock its 24th largest position. Peregrine Capital Management LLC owned approximately 0.05% of Atlassian worth $33,291,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of TEAM. True Wealth Design LLC grew its stake in Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock valued at $37,000 after purchasing an additional 231 shares during the period. Avion Wealth grew its stake in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after purchasing an additional 157 shares during the period. Reston Wealth Management LLC bought a new position in Atlassian in the 3rd quarter valued at $48,000. Brown Brothers Harriman & Co. grew its stake in Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company's stock valued at $69,000 after purchasing an additional 82 shares during the period. Finally, GAMMA Investing LLC grew its stake in Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock valued at $71,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Price Performance

Shares of NASDAQ:TEAM traded down $12.50 on Friday, hitting $285.99. The company's stock had a trading volume of 1,717,448 shares, compared to its average volume of 2,056,392. The company has a 50-day simple moving average of $272.83 and a 200 day simple moving average of $221.70. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The company has a market capitalization of $74.93 billion, a PE ratio of -213.42 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Sell-side analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CAO Gene Liu sold 568 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the transaction, the chief accounting officer now directly owns 52,142 shares in the company, valued at approximately $16,272,475.36. This represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $264.20, for a total value of $2,099,861.60. Following the transaction, the director now owns 190,752 shares in the company, valued at $50,396,678.40. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 283,449 shares of company stock valued at $77,580,151 in the last 90 days. Corporate insiders own 38.55% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Morgan Stanley upped their price objective on Atlassian from $315.00 to $370.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Scotiabank upped their price objective on Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a research note on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of Atlassian in a research report on Friday, January 31st. Barclays upped their price target on Atlassian from $275.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Truist Financial reaffirmed a "buy" rating and set a $350.00 price target (up previously from $300.00) on shares of Atlassian in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Atlassian has an average rating of "Moderate Buy" and an average target price of $319.71.

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.