Pinebridge Investments L.P. Purchases 3,103 Shares of Atlassian Co. (NASDAQ:TEAM)

Pinebridge Investments L.P. raised its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 53,803 shares of the technology company's stock after buying an additional 3,103 shares during the period. Pinebridge Investments L.P.'s holdings in Atlassian were worth $13,095,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Corebridge Financial Inc. lifted its stake in shares of Atlassian by 0.3% during the 4th 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 during the last quarter. GeoWealth Management LLC increased its position in shares of Atlassian by 26.8% in the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after purchasing an additional 38 shares during the period. Assetmark Inc. increased its holdings in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after buying an additional 41 shares during the period. Allworth Financial LP raised its position in Atlassian by 3.1% during 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. Finally, GAMMA Investing LLC raised its holdings in shares of Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock worth $71,000 after buying an additional 54 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of recent analyst reports. Raymond James reiterated an "outperform" rating and issued a $330.00 target price (up previously from $250.00) on shares of Atlassian in a research report on Friday, January 31st. StockNews.com cut shares of Atlassian from a "buy" rating to a "hold" rating in a research report on Monday, March 31st. Mizuho raised their target price on shares of Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. William Blair reiterated an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Macquarie raised Atlassian from a "neutral" rating to an "outperform" rating and cut their price objective for the company from $317.00 to $270.00 in a report on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $297.73.

Atlassian Stock Up 1.6 %

Atlassian stock traded up $3.60 during mid-day trading on Friday, reaching $228.68. The stock had a trading volume of 2,545,073 shares, compared to its average volume of 2,049,232. The firm has a market capitalization of $59.91 billion, a PE ratio of -170.66 and a beta of 1.07. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The stock's 50-day simple moving average is $229.25 and its 200-day simple moving average is $244.20. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

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

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $210.23, for a total transaction of $1,670,908.04. Following the sale, the chief executive officer now directly owns 246,388 shares in the company, valued at approximately $51,798,149.24. This represents a 3.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 779 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the sale, the chief accounting officer now owns 52,710 shares in the company, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 261,513 shares of company stock worth $66,183,631 in 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.