T. Rowe Price Investment Management Inc. Sells 17,258 Shares of Atlassian Co. (NASDAQ:TEAM)

T. Rowe Price Investment Management Inc. decreased its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,847,698 shares of the technology company's stock after selling 17,258 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.71% of Atlassian worth $449,693,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp bought a new stake in Atlassian in the 4th quarter valued at $27,000. Summit Securities Group LLC bought a new stake in shares of Atlassian during the fourth quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Atlassian during the fourth quarter worth approximately $39,000. Avion Wealth grew its position 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 last quarter. Finally, Assetmark Inc. increased its stake in shares of Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after purchasing an additional 41 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Trading Up 3.9 %

Shares of Atlassian stock opened at $200.30 on Wednesday. The firm has a market capitalization of $52.48 billion, a PE ratio of -149.48 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. The firm's 50 day moving average is $234.84 and its 200 day moving average is $243.17. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00.

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

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $185.61, for a total transaction of $1,475,228.28. Following the sale, the director now directly owns 333,816 shares in the company, valued at approximately $61,959,587.76. The trade was a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,723 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total value of $526,962.32. Following the completion of the transaction, the president now directly owns 199,934 shares of the company's stock, valued at $61,147,814.56. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 261,513 shares of company stock valued at $66,621,566 in the last 90 days. Corporate insiders own 38.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TEAM shares. William Blair restated an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Macquarie upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and decreased their price target for the company from $317.00 to $270.00 in a research note on Thursday, April 10th. Truist Financial lowered their price target on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Baird R W raised shares of Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Finally, StockNews.com cut shares of Atlassian from a "buy" rating to a "hold" rating in a report on Monday, March 31st. Six analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $297.73.

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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