Atlassian Co. (NASDAQ:TEAM) Shares Bought by Parnassus Investments LLC

Parnassus Investments LLC grew its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 325,367 shares of the technology company's stock after acquiring an additional 4,127 shares during the quarter. Parnassus Investments LLC owned about 0.12% of Atlassian worth $79,188,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Avion Wealth raised its stake in Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after purchasing an additional 157 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after buying an additional 41 shares during the last quarter. Mainstream Capital Management LLC purchased a new stake in shares of Atlassian during the 4th quarter valued at about $49,000. True Wealth Design LLC lifted its holdings in shares of 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 acquiring an additional 231 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new position in Atlassian in the fourth quarter worth about $56,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Down 0.7 %

Shares of NASDAQ:TEAM traded down $1.53 on Tuesday, reaching $219.45. The company had a trading volume of 2,419,058 shares, compared to its average volume of 1,938,063. The firm has a market capitalization of $57.50 billion, a PE ratio of -163.77 and a beta of 0.91. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The firm's 50 day simple moving average is $272.77 and its 200-day simple moving average is $235.08.

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Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data 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%. As a group, analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $227.55, for a total transaction of $1,808,567.40. Following the completion of the sale, the chief executive officer now directly owns 103,324 shares in the company, valued at approximately $23,511,376.20. The trade was a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $254.76, for a total transaction of $387,235.20. Following the sale, the president now directly owns 211,991 shares in the company, valued at $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 264,553 shares of company stock valued at $71,956,546. 38.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TEAM has been the subject of a number of recent analyst reports. 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. The Goldman Sachs Group boosted their target price on shares of Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research note on Monday, February 3rd. Barclays upped their price target on shares of Atlassian from $275.00 to $350.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Canaccord Genuity Group lifted their price objective on shares of Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a report on Friday, December 20th. Finally, Raymond James reissued an "outperform" rating and issued a $330.00 price objective (up from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.