Amalgamated Bank Has $2.61 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

Amalgamated Bank grew its position in Atlassian Co. (NASDAQ:TEAM) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,710 shares of the technology company’s stock after purchasing an additional 296 shares during the period. Amalgamated Bank’s holdings in Atlassian were worth $2,607,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TEAM. William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Scotiabank increased their price target on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. UBS Group raised their price target on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Truist Financial reiterated a “buy” rating and issued a $350.00 price objective (up previously from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Finally, BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Insider Buying and Selling at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $265.96, for a total transaction of $2,113,850.08. Following the completion of the sale, the director now owns 158,960 shares in the company, valued at $42,277,001.60. This represents a 4.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Anutthara Bharadwaj sold 1,723 shares of the firm’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 sale, the president now directly owns 199,934 shares in the company, valued at $61,147,814.56. This trade represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,501 shares of company stock worth $75,853,687 over the last ninety days. Company insiders own 38.55% of the company’s stock.

Atlassian Stock Up 2.1 %

TEAM opened at $284.26 on Friday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. 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 business has a 50 day moving average price of $275.25 and a 200 day moving average price of $227.71. The firm has a market cap of $74.48 billion, a P/E ratio of -212.13 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data 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%. Research analysts forecast that Atlassian Co. will post -0.34 EPS 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.