Atlassian Co. (NASDAQ:TEAM) Shares Bought by Prudential PLC

Prudential PLC raised its position in Atlassian Co. (NASDAQ:TEAM) by 40.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,996 shares of the technology company’s stock after purchasing an additional 2,612 shares during the period. Prudential PLC’s holdings in Atlassian were worth $2,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TEAM. Murphy & Mullick Capital Management Corp acquired a new position in shares of Atlassian during the fourth quarter worth $27,000. Summit Securities Group LLC purchased a new stake in Atlassian during the 4th quarter worth about $38,000. Avion Wealth boosted its position in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after acquiring an additional 157 shares in the last quarter. Assetmark Inc. increased its holdings in shares of 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 acquiring an additional 41 shares during the last quarter. Finally, Mainstream Capital Management LLC acquired a new stake in shares of Atlassian during the 4th quarter worth about $49,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on TEAM shares. Scotiabank increased their price target on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Raymond James reiterated an “outperform” rating and set a $330.00 price target (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Canaccord Genuity Group upped their price objective on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. William Blair reiterated an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Finally, UBS Group reduced their target price on Atlassian from $330.00 to $230.00 and set a “neutral” rating for the company in a report on Tuesday, April 1st. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $308.73.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $209.73, for a total transaction of $1,666,934.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the transaction, the chief accounting officer now owns 52,710 shares of the company’s stock, 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. Over the last three months, insiders have sold 263,033 shares of company stock worth $69,887,912. 38.55% of the stock is owned by company insiders.

Atlassian Stock Down 5.4 %

TEAM opened at $187.67 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The stock has a market capitalization of $49.17 billion, a P/E ratio of -140.05 and a beta of 1.07. The business has a 50 day simple moving average of $264.05 and a 200-day simple moving average of $240.72.

Atlassian (NASDAQ:TEAM) last posted its quarterly 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%. On average, equities analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.