Price T Rowe Associates Inc. MD Cuts Position in Atlassian Co. (NASDAQ:TEAM)

Price T Rowe Associates Inc. MD reduced its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 20.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,534,913 shares of the technology company's stock after selling 1,657,607 shares during the period. Price T Rowe Associates Inc. MD owned approximately 2.49% of Atlassian worth $1,590,468,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new position in shares of Atlassian during the 4th quarter valued at $687,486,000. JPMorgan Chase & Co. lifted its stake in shares of Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Invesco Ltd. boosted its position in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after buying an additional 1,777,179 shares during the period. Norges Bank acquired a new stake in shares of Atlassian in the fourth quarter valued at about $296,697,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Atlassian during the 4th quarter valued at about $234,547,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Stock Up 3.9 %

TEAM stock opened at $200.30 on Wednesday. The stock has a market cap of $52.48 billion, a PE ratio of -149.48 and a beta of 1.07. The firm's 50-day simple moving average is $234.84 and its 200 day simple moving average is $243.17. 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.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced 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%. As a group, sell-side analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TEAM shares. Wells Fargo & Company lowered their price objective on shares of Atlassian from $375.00 to $330.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. BMO Capital Markets dropped their price target on shares of Atlassian from $360.00 to $295.00 and set an "outperform" rating on the stock in a research note on Thursday, April 10th. Jefferies Financial Group decreased their price objective on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Oppenheimer lifted their target price on Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Finally, KeyCorp reduced their price target on Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Six research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $297.73.

Insider Buying and Selling at Atlassian

In related news, CAO Gene Liu sold 779 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the sale, the chief accounting officer now owns 52,710 shares of the company's stock, valued at $16,867,727.10. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $265.33, for a total value of $2,108,842.84. Following the transaction, the chief executive officer now directly owns 365,608 shares of the company's stock, valued at approximately $97,006,770.64. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 261,513 shares of company stock valued at $66,621,566 in the last quarter. Corporate insiders own 38.55% of the company's stock.

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.

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