Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Prudential PLC

Prudential PLC boosted its position in shares of Atlassian Co. (NASDAQ:TEAM) by 40.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,996 shares of the technology company’s stock after buying an additional 2,612 shares during the quarter. Prudential PLC’s holdings in Atlassian were worth $2,189,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEAM. Murphy & Mullick Capital Management Corp purchased a new position in shares of Atlassian in the 4th quarter valued at about $27,000. Summit Securities Group LLC acquired a new stake in Atlassian in the fourth quarter valued at approximately $38,000. Avion Wealth increased its position 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 buying an additional 157 shares in the last quarter. Assetmark Inc. raised its stake in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after buying an additional 41 shares during the period. Finally, Mainstream Capital Management LLC purchased a new position in shares of Atlassian during the 4th quarter valued at approximately $49,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $222.68, for a total transaction of $1,769,860.64. Following the sale, the chief executive officer now directly owns 357,660 shares in the company, valued at $79,643,728.80. This represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $320.01, for a total transaction of $249,287.79. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 263,033 shares of company stock worth $69,887,912 over the last ninety days. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Down 5.4 %

Shares of TEAM opened at $187.67 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market cap of $49.17 billion, a P/E ratio of -140.05 and a beta of 1.07. The company’s 50-day moving average price is $264.05 and its 200 day moving average price is $240.72. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate 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 forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Canaccord Genuity Group boosted their price target on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Cantor Fitzgerald upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $304.00 to $272.00 in a research report on Wednesday, April 2nd. The Goldman Sachs Group lifted their price objective on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Macquarie increased their target price on Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, UBS Group lowered their price target on Atlassian from $330.00 to $230.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $308.73.

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.