Atlassian Co. (NASDAQ:TEAM) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado cut its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 21,823 shares of the technology company’s stock after selling 253 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Atlassian were worth $5,311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Corebridge Financial Inc. boosted its position in Atlassian by 0.3% during the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company’s stock worth $2,555,000 after acquiring an additional 35 shares during the last quarter. GeoWealth Management LLC boosted its holdings in Atlassian by 26.8% in the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company’s stock valued at $44,000 after purchasing an additional 38 shares during the last quarter. Assetmark Inc. boosted its holdings in 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 purchasing an additional 41 shares during the last quarter. Allworth Financial LP boosted its holdings in Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after purchasing an additional 47 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after purchasing an additional 54 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TEAM has been the topic of several recent analyst reports. Jefferies Financial Group decreased their target price on shares of Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Wells Fargo & Company decreased their target price on shares of Atlassian from $375.00 to $330.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Baird R W upgraded shares of Atlassian from a “hold” rating to a “strong-buy” rating in a report on Monday, April 14th. Raymond James reiterated an “outperform” rating and issued a $330.00 target price (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. Finally, The Goldman Sachs Group boosted their price target on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $301.90.

Atlassian Trading Up 0.5 %

Shares of NASDAQ:TEAM opened at $229.83 on Tuesday. The company has a market cap of $60.22 billion, a PE ratio of -171.51 and a beta of 1.07. The company’s 50 day moving average is $227.77 and its two-hundred day moving average is $244.92. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

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 net margin of 7.22% and a negative return on equity of 17.37%. Equities analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $270.63, for a total transaction of $2,150,967.24. Following the completion of the sale, the director now owns 333,816 shares in the company, valued at approximately $90,340,624.08. The trade was a 2.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 1,723 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total transaction of $526,962.32. Following the sale, the president now 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 261,513 shares of company stock valued at $65,866,506 over the last three months. 38.55% of the stock is owned by corporate insiders.

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.