Atlassian Co. (NASDAQ:TEAM) Stock Holdings Increased by Parnassus Investments LLC

Parnassus Investments LLC increased its holdings in Atlassian Co. (NASDAQ:TEAM) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,367 shares of the technology company’s stock after purchasing an additional 4,127 shares during the quarter. Parnassus Investments LLC owned 0.12% of Atlassian worth $79,188,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Atlassian by 61.4% during the third quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock valued at $1,710,000 after acquiring an additional 4,099 shares during the period. Venturi Wealth Management LLC raised its holdings in shares of Atlassian by 18.6% during the third quarter. Venturi Wealth Management LLC now owns 1,411 shares of the technology company’s stock valued at $224,000 after acquiring an additional 221 shares during the period. GSA Capital Partners LLP raised its holdings in shares of Atlassian by 140.4% during the third quarter. GSA Capital Partners LLP now owns 4,827 shares of the technology company’s stock valued at $767,000 after acquiring an additional 2,819 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Atlassian by 1.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 366,254 shares of the technology company’s stock valued at $58,165,000 after acquiring an additional 6,470 shares during the period. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Atlassian by 24.4% during the third quarter. Oppenheimer & Co. Inc. now owns 1,771 shares of the technology company’s stock valued at $281,000 after acquiring an additional 347 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TEAM shares. Citigroup boosted 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. KeyCorp boosted their price target on shares of Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Morgan Stanley boosted their price target on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Oppenheimer boosted their price objective on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $319.71.

Insider Transactions at Atlassian

In related news, CAO Gene Liu sold 568 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the transaction, the chief accounting officer now directly owns 52,142 shares in the company, valued at $16,272,475.36. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the transaction, the chief executive officer now owns 429,192 shares of the company’s stock, valued at approximately $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 272,501 shares of company stock worth $74,167,124. 38.55% of the stock is owned by insiders.

Atlassian Price Performance

Shares of Atlassian stock opened at $208.00 on Friday. The firm has a fifty day simple moving average of $274.08 and a 200-day simple moving average of $233.34. 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 Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The stock has a market capitalization of $54.50 billion, a price-to-earnings ratio of -155.22 and a beta of 0.91.

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%. On average, sell-side analysts expect that Atlassian Co. will post -0.34 earnings per share 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.