Franklin Resources Inc. Has $17.83 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

Franklin Resources Inc. raised its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 9.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,275 shares of the technology company's stock after buying an additional 6,587 shares during the period. Franklin Resources Inc.'s holdings in Atlassian were worth $17,834,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Atlassian during the 4th quarter valued at about $27,000. Summit Securities Group LLC acquired a new position in shares of Atlassian during the fourth quarter worth $38,000. Avion Wealth boosted its stake in shares of Atlassian by 1,308.3% in 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 during the period. Assetmark Inc. grew its holdings in Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after purchasing an additional 41 shares in the last quarter. Finally, Mainstream Capital Management LLC purchased a new stake in Atlassian during the 4th quarter worth $49,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Macquarie upgraded Atlassian from a "neutral" rating to an "outperform" rating and lowered their price objective for the company from $317.00 to $270.00 in a research note on Thursday. StockNews.com lowered Atlassian from a "buy" rating to a "hold" rating in a research report on Monday, March 31st. Mizuho raised their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Finally, Stephens assumed coverage on shares of Atlassian in a research note on Wednesday, March 19th. They issued an "equal weight" rating and a $255.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Atlassian currently has a consensus rating of "Moderate Buy" and a consensus price target of $297.50.

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Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 568 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $312.08, for a total value of $177,261.44. Following the completion of the sale, the chief accounting officer now directly owns 52,142 shares of the company's stock, valued at approximately $16,272,475.36. This represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $251.20, for a total transaction of $1,996,537.60. Following the completion of the transaction, the chief executive officer now directly owns 405,348 shares in the company, valued at $101,823,417.60. This represents a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 263,033 shares of company stock worth $68,608,284 over the last ninety days. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Performance

Atlassian stock traded up $0.34 during midday trading on Friday, reaching $198.37. 2,003,551 shares of the stock traded hands, compared to its average volume of 2,039,036. The firm has a fifty day moving average price of $251.13 and a two-hundred day moving average price of $241.25. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm has a market cap of $51.97 billion, a price-to-earnings ratio of -148.04 and a beta of 1.07. 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 (NASDAQ:TEAM - Get Free Report) last posted its 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, equities research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current 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.