US Bancorp DE Has $6.85 Million Position in Atlassian Co. (NASDAQ:TEAM)

US Bancorp DE cut its stake in Atlassian Co. (NASDAQ:TEAM) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,131 shares of the technology company’s stock after selling 1,036 shares during the quarter. US Bancorp DE’s holdings in Atlassian were worth $6,847,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TEAM. Virtu Financial LLC acquired a new stake in shares of Atlassian during the 3rd quarter valued at about $606,000. Fulton Bank N.A. bought a new position in Atlassian during the fourth quarter valued at approximately $447,000. Paloma Partners Management Co bought a new position in Atlassian during the third quarter valued at approximately $1,588,000. Allworth Financial LP lifted its stake in Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after acquiring an additional 47 shares during the last quarter. Finally, Impax Asset Management Group plc grew its position in Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after acquiring an additional 31,986 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TEAM has been the topic of a number of recent research reports. Citigroup raised their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. William Blair restated an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Truist Financial reiterated a “buy” rating and set a $350.00 price target (up previously from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Morgan Stanley raised their price objective on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Barclays boosted their target price on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Trading Down 0.2 %

Atlassian stock opened at $273.62 on Wednesday. The business has a 50 day moving average price of $276.03 and a two-hundred day moving average price of $230.63. 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 Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The stock has a market cap of $71.69 billion, a price-to-earnings ratio of -204.19 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates 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, equities analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Insider Transactions at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $278.61, for a total value of $2,214,392.28. Following the sale, the director now directly owns 166,908 shares in the company, valued at $46,502,237.88. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction on Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the transaction, the president now directly owns 211,991 shares of the company’s stock, valued at approximately $54,006,827.16. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 272,501 shares of company stock valued at $75,129,229. Company 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.