Mitsubishi UFJ Trust & Banking Corp Sells 3,105 Shares of Atlassian Co. (NASDAQ:TEAM)

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 1.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 261,972 shares of the technology company's stock after selling 3,105 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.10% of Atlassian worth $63,759,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TEAM. Corebridge Financial Inc. grew its position in Atlassian by 0.3% during the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock worth $2,555,000 after buying an additional 35 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after purchasing an additional 41 shares in the last quarter. Allworth Financial LP raised its stake in shares of Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after purchasing an additional 47 shares in the last quarter. GAMMA Investing LLC lifted its position in Atlassian by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock worth $71,000 after purchasing an additional 54 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in Atlassian by 4.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company's stock worth $357,000 after buying an additional 56 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

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Atlassian Trading Down 2.1 %

Atlassian stock traded down $4.65 during mid-day trading on Friday, hitting $217.99. 2,418,163 shares of the company's stock were exchanged, compared to its average volume of 1,976,725. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $57.11 billion, a P/E ratio of -162.68 and a beta of 0.91. The company's 50 day simple moving average is $269.28 and its 200-day simple moving average is $238.60.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data 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%. On average, equities analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of analyst reports. Macquarie raised their price objective on shares of Atlassian from $290.00 to $317.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Scotiabank raised their price target on shares of Atlassian from $250.00 to $330.00 and gave the stock a "sector perform" rating in a research note on Friday, January 31st. Wells Fargo & Company lifted their price objective on Atlassian from $350.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Morgan Stanley increased their target price on Atlassian from $315.00 to $370.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group lifted their price objective on Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $316.77.

Insider Activity

In related news, CAO Gene Liu sold 568 shares of Atlassian stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.08, for a total value of $177,261.44. Following the sale, the chief accounting officer now owns 52,142 shares of the company's stock, valued at approximately $16,272,475.36. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $229.64, for a total value of $1,825,178.72. Following the transaction, the director now directly owns 23,844 shares of the company's stock, valued at approximately $5,475,536.16. This trade represents a 25.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,033 shares of company stock worth $70,644,164 over the last quarter. 38.55% of the stock is currently owned by company insiders.

Atlassian Company 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.