Victory Capital Management Inc. Boosts Position in Atlassian Co. (NASDAQ:TEAM)

Victory Capital Management Inc. raised its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 120,881 shares of the technology company's stock after purchasing an additional 2,655 shares during the quarter. Victory Capital Management Inc.'s holdings in Atlassian were worth $29,420,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its position in shares of Atlassian by 0.9% during the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company's stock worth $1,352,115,000 after buying an additional 78,454 shares during the period. State Street Corp boosted its position in Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company's stock valued at $565,424,000 after acquiring an additional 8,957 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Atlassian by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock worth $393,588,000 after acquiring an additional 131,621 shares during the period. FMR LLC raised its position in shares of Atlassian by 7.4% in the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company's stock worth $346,679,000 after acquiring an additional 150,237 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Atlassian by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company's stock worth $340,453,000 after acquiring an additional 57,911 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. KeyCorp boosted their target price on shares of Atlassian from $315.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Mizuho upped their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Raymond James restated an "outperform" rating and issued a $330.00 target price (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Jefferies Financial Group raised their price target on shares of Atlassian from $300.00 to $325.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company upped their price objective on Atlassian from $350.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Atlassian currently has an average rating of "Moderate Buy" and a consensus price target of $319.71.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 568 shares of the stock in a transaction that occurred 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 directly owns 52,142 shares in the company, valued at $16,272,475.36. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the sale, the chief executive officer now owns 429,192 shares of the company's stock, valued at approximately $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 272,501 shares of company stock worth $74,167,124. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Price Performance

Atlassian stock traded down $18.44 during midday trading on Thursday, hitting $208.00. 4,233,732 shares of the company's stock were exchanged, compared to its average volume of 1,936,372. The company has a market cap of $54.50 billion, a P/E ratio of -155.22 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50-day moving average price of $274.08 and a two-hundred day moving average price of $233.34. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data 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 return on equity of 17.37% and a negative net margin of 7.22%. On average, equities research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current 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.