M&T Bank Corp Acquires 4,934 Shares of Atlassian Co. (NASDAQ:TEAM)

M&T Bank Corp boosted its position in Atlassian Co. (NASDAQ:TEAM) by 12.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,150 shares of the technology company’s stock after purchasing an additional 4,934 shares during the period. M&T Bank Corp’s holdings in Atlassian were worth $10,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Atlassian during the third quarter valued at approximately $26,000. Carmel Capital Partners LLC raised its stake in shares of Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after acquiring an additional 57 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Atlassian by 271.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after acquiring an additional 271 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Atlassian during the fourth quarter valued at approximately $107,000. Finally, Operose Advisors LLC bought a new stake in shares of Atlassian during the third quarter valued at approximately $99,000. Institutional investors own 93.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $218.32, for a total transaction of $1,799,175.12. Following the sale, the chief executive officer now owns 263,712 shares of the company’s stock, valued at $57,573,603.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $218.32, for a total transaction of $1,799,175.12. Following the sale, the chief executive officer now directly owns 263,712 shares in the company, valued at approximately $57,573,603.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Rajeev Bashyam Rajan sold 872 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $185,622.64. Following the completion of the sale, the chief technology officer now owns 142,103 shares in the company, valued at $30,249,465.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 300,450 shares of company stock valued at $60,110,850. Corporate insiders own 40.48% of the company’s stock.

Atlassian Stock Down 0.0 %

Shares of NASDAQ:TEAM opened at $183.52 on Monday. The business has a fifty day moving average of $197.23 and a two-hundred day moving average of $206.07. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. The stock has a market cap of $47.77 billion, a P/E ratio of -291.30 and a beta of 0.67. Atlassian Co. has a 52-week low of $128.02 and a 52-week high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the firm earned ($0.40) earnings per share. Atlassian’s quarterly revenue was up 29.9% compared to the same quarter last year. On average, research analysts expect that Atlassian Co. will post -0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Robert W. Baird decreased their price target on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. The Goldman Sachs Group lifted their price objective on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. TD Cowen cut their price objective on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Oppenheimer cut their price objective on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Finally, Canaccord Genuity Group cut their price target on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $223.22.

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.