Atlassian Co. (NASDAQ:TEAM) Shares Acquired by California Public Employees Retirement System

California Public Employees Retirement System increased its stake in Atlassian Co. (NASDAQ:TEAM) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 273,583 shares of the technology company’s stock after acquiring an additional 9,808 shares during the period. California Public Employees Retirement System’s holdings in Atlassian were worth $65,074,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Graypoint LLC raised its stake in Atlassian by 2.4% in the fourth quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock valued at $424,000 after buying an additional 42 shares in the last quarter. Legacy Wealth Asset Management LLC raised its stake in Atlassian by 1.4% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock valued at $736,000 after buying an additional 43 shares in the last quarter. Park National Corp OH raised its stake in Atlassian by 3.5% in the fourth quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock valued at $342,000 after buying an additional 48 shares in the last quarter. UMB Bank n.a. raised its stake in Atlassian by 5.7% in the fourth quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock valued at $248,000 after buying an additional 56 shares in the last quarter. Finally, Carmel Capital Partners LLC raised its stake in Atlassian by 28.5% in the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after buying an additional 57 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

Shares of TEAM opened at $198.41 on Friday. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69. The stock’s 50 day moving average is $200.55 and its two-hundred day moving average is $206.69. The firm has a market capitalization of $51.47 billion, a PE ratio of -133.16 and a beta of 0.63. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Research analysts anticipate that Atlassian Co. will post -0.4 earnings per share for the current year.

Insider Transactions at Atlassian

In other news, President Anutthara Bharadwaj sold 4,139 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $881,068.93. Following the sale, the president now owns 167,535 shares of the company’s stock, valued at approximately $35,663,175.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, President Anutthara Bharadwaj sold 4,139 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $881,068.93. Following the sale, the president now owns 167,535 shares of the company’s stock, valued at approximately $35,663,175.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $253.53, for a total value of $2,089,340.73. Following the sale, the chief executive officer now directly owns 346,122 shares in the company, valued at approximately $87,752,310.66. The disclosure for this sale can be found here. Insiders have sold 300,450 shares of company stock valued at $61,721,553 in the last quarter. 40.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TEAM shares. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. KeyCorp started coverage on Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Wells Fargo & Company lifted their target price on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. Finally, Citigroup cut their target price on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $224.25.

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.