Mitsubishi UFJ Trust & Banking Corp Sells 3,105 Shares of Atlassian Co. (NASDAQ:TEAM)

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 261,972 shares of the technology company’s stock after selling 3,105 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Atlassian were worth $63,759,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TEAM. State Street Corp increased its holdings in Atlassian by 0.3% during the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after acquiring an additional 8,957 shares during the period. JPMorgan Chase & Co. increased 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 worth $393,588,000 after purchasing an additional 131,621 shares during the period. FMR LLC raised 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 in the last quarter. Geode Capital Management LLC boosted its stake in 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Atlassian by 5.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,210,351 shares of the technology company’s stock worth $192,216,000 after buying an additional 58,536 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Up 0.7 %

NASDAQ TEAM opened at $236.22 on Wednesday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The stock has a market capitalization of $61.89 billion, a PE ratio of -176.28 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The business’s 50-day moving average is $271.00 and its 200 day moving average is $237.85.

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%. Sell-side analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Macquarie raised their price target on Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Citigroup raised their target price on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Jefferies Financial Group boosted 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. Raymond James restated an “outperform” rating and set a $330.00 price objective (up previously from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Finally, William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $316.77.

Insider Buying and Selling at Atlassian

In other Atlassian news, CAO Gene Liu sold 779 shares of Atlassian stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the sale, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at approximately $16,867,727.10. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $234.38, for a total value of $1,862,852.24. Following the completion of the transaction, the director now directly owns 39,740 shares of the company’s stock, valued at $9,314,261.20. This represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 263,033 shares of company stock valued at $70,849,302. 38.55% of the stock is currently owned by company insiders.

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.