Atlassian Co. (NASDAQ:TEAM) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Atlassian Co. (NASDAQ:TEAM) by 11.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 128,099 shares of the technology company’s stock after purchasing an additional 12,952 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Atlassian were worth $32,059,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new position in Atlassian during the 4th quarter worth $27,000. Avion Wealth boosted its holdings in shares of Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after acquiring an additional 157 shares in the last quarter. Assetmark Inc. lifted its position in Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares during the period. Mainstream Capital Management LLC acquired a new position in shares of Atlassian during the 4th quarter valued at $49,000. Finally, True Wealth Design LLC lifted its holdings in shares of Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares during the period. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $322.31, for a total value of $2,561,719.88. Following the sale, the chief executive officer now directly owns 270,232 shares in the company, valued at $87,098,475.92. The trade was a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,723 shares of the business’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 owns 199,934 shares in the company, valued at $61,147,814.56. The trade was a 0.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 263,033 shares of company stock valued at $70,644,164. Company insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TEAM. JMP Securities reissued a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Truist Financial restated a “buy” rating and issued a $350.00 price target (up previously from $300.00) on shares of Atlassian in a research report on Friday, January 31st. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Scotiabank boosted their price objective on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Finally, William Blair reissued an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $316.77.

Atlassian Price Performance

TEAM opened at $217.99 on Friday. The company has a fifty day moving average price of $269.28 and a two-hundred day moving average price of $238.60. 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 firm has a market capitalization of $57.11 billion, a PE ratio of -162.68 and a beta of 0.91. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) 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%. As a group, analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

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.