New York State Common Retirement Fund Sells 2,953 Shares of Atlassian Co. (NASDAQ:TEAM)

New York State Common Retirement Fund reduced its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,657 shares of the technology company's stock after selling 2,953 shares during the period. New York State Common Retirement Fund owned 0.10% of Atlassian worth $64,899,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TEAM. True Wealth Design LLC raised its stake in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock worth $37,000 after buying an additional 231 shares in the last quarter. Avion Wealth raised its stake in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after buying an additional 157 shares in the last quarter. Reston Wealth Management LLC bought a new position in Atlassian in the third quarter worth about $48,000. Kestra Investment Management LLC bought a new position in Atlassian in the fourth quarter worth about $56,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Atlassian by 23.2% during the third 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 in the last quarter. 94.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TEAM has been the subject of a number of analyst reports. UBS Group raised their target price on shares of Atlassian from $275.00 to $330.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Piper Sandler raised their target price on shares of Atlassian from $310.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Raymond James reaffirmed an "outperform" rating and set a $330.00 target price (up previously from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Robert W. Baird raised their target price on shares of Atlassian from $175.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Finally, Oppenheimer raised their target price on shares of Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Atlassian presently has a consensus rating of "Moderate Buy" and an average price target of $319.71.

Insider Transactions at Atlassian

In other news, CAO Gene Liu sold 568 shares of Atlassian stock in a transaction on Friday, February 14th. The shares were sold at an average price of $312.08, for a total transaction of $177,261.44. Following the transaction, the chief accounting officer now owns 52,142 shares in the company, valued at $16,272,475.36. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Monday, November 25th. The stock was sold at an average price of $264.20, for a total transaction 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 represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,501 shares of company stock worth $75,215,542 in the last 90 days. 38.55% of the stock is currently owned by insiders.

Atlassian Stock Performance

TEAM stock traded down $13.36 on Friday, hitting $285.13. The company had a trading volume of 1,046,169 shares, compared to its average volume of 2,034,909. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock's 50-day simple moving average is $272.83 and its 200 day simple moving average is $221.70. The stock has a market cap of $74.70 billion, a price-to-earnings ratio of -212.79 and a beta of 0.87.

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

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.