Wells Fargo & Company MN Has $27.97 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

Wells Fargo & Company MN boosted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,909 shares of the technology company’s stock after acquiring an additional 12,426 shares during the period. Wells Fargo & Company MN’s holdings in Atlassian were worth $27,967,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TEAM. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Atlassian during the fourth quarter worth about $27,000. Summit Securities Group LLC bought a new stake in Atlassian during the 4th quarter worth approximately $38,000. Avion Wealth raised its holdings in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after buying an additional 157 shares during the period. Assetmark Inc. lifted its stake in Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after buying an additional 41 shares in the last quarter. Finally, Mainstream Capital Management LLC acquired a new position in shares of Atlassian in the fourth quarter valued at approximately $49,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on TEAM shares. KeyCorp dropped their price objective on shares of Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday. BMO Capital Markets lowered their target price on Atlassian from $360.00 to $295.00 and set an “outperform” rating for the company in a report on Thursday. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a report on Monday, March 31st. Oppenheimer upped their price objective on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Finally, Raymond James reissued an “outperform” rating and issued a $330.00 target price (up previously from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.50.

Atlassian Stock Performance

TEAM opened at $198.37 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The firm has a market cap of $51.97 billion, a P/E ratio of -148.04 and a beta of 1.07. The business’s fifty day moving average is $251.13 and its 200-day moving average is $241.25.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data 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%. Sell-side analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $253.01, for a total transaction of $2,010,923.48. Following the completion of the sale, the director now directly owns 389,452 shares in the company, valued at $98,535,250.52. This represents a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the transaction, the president now owns 210,471 shares in the company, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 263,033 shares of company stock worth $68,608,284. Corporate insiders own 38.55% of the company’s stock.

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.