Dorsey & Whitney Trust CO LLC Takes $300,000 Position in Atlassian Co. (NASDAQ:TEAM)

Dorsey & Whitney Trust CO LLC purchased a new position in Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,233 shares of the technology company's stock, valued at approximately $300,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its stake in Atlassian by 0.9% in the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company's stock worth $1,352,115,000 after acquiring an additional 78,454 shares during the period. State Street Corp lifted its stake in Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company's stock worth $565,424,000 after acquiring an additional 8,957 shares during the period. JPMorgan Chase & Co. lifted its stake in Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock worth $393,588,000 after acquiring an additional 131,621 shares during the period. FMR LLC lifted its position in Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company's stock valued at $346,679,000 after buying an additional 150,237 shares during the period. Finally, Geode Capital Management LLC lifted its position in Atlassian by 2.8% during the third quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company's stock valued at $340,453,000 after buying an additional 57,911 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

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Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $227.55, for a total value of $1,808,567.40. Following the completion of the sale, the chief executive officer now directly owns 103,324 shares of the company's stock, valued at approximately $23,511,376.20. This represents a 7.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the completion of the sale, the president now directly owns 211,991 shares of the company's stock, valued at $54,006,827.16. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 272,501 shares of company stock valued at $74,167,124. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Performance

Shares of NASDAQ TEAM traded down $18.44 during midday trading on Thursday, hitting $208.00. 4,233,732 shares of the company's stock traded hands, compared to its average volume of 1,936,372. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The stock has a market capitalization of $54.50 billion, a price-to-earnings ratio of -155.22 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a fifty day moving average of $274.08 and a 200 day moving average of $233.34.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. On average, analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the subject of several recent research reports. StockNews.com raised Atlassian from a "hold" rating to a "buy" rating in a research report on Wednesday. Truist Financial reissued a "buy" rating and set a $350.00 price objective (up previously from $300.00) on shares of Atlassian in a research report on Friday, January 31st. Barclays raised their price objective on Atlassian from $275.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. The Goldman Sachs Group raised their price objective on Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Mizuho raised their price objective on Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $319.71.

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.