Atlassian Co. Plc (NASDAQ:TEAM) Position Cut by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Atlassian Co. Plc (NASDAQ:TEAM) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 256,999 shares of the technology company’s stock after selling 19,643 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.19% of Atlassian worth $54,165,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TEAM. Amundi Pioneer Asset Management Inc. boosted its stake in Atlassian by 3.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 119,445 shares of the technology company’s stock valued at $13,425,000 after purchasing an additional 3,812 shares in the last quarter. Comerica Bank lifted its position in shares of Atlassian by 32.5% during the 4th quarter. Comerica Bank now owns 7,075 shares of the technology company’s stock valued at $1,666,000 after acquiring an additional 1,735 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of Atlassian during the 4th quarter valued at $266,000. Victory Capital Management Inc. lifted its position in shares of Atlassian by 75.8% during the 4th quarter. Victory Capital Management Inc. now owns 57,182 shares of the technology company’s stock valued at $13,373,000 after acquiring an additional 24,664 shares during the last quarter. Finally, AE Wealth Management LLC lifted its position in shares of Atlassian by 5.2% during the 4th quarter. AE Wealth Management LLC now owns 1,326 shares of the technology company’s stock valued at $310,000 after acquiring an additional 65 shares during the last quarter. 90.26% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on TEAM shares. Mizuho increased their price objective on Atlassian from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, April 30th. Oppenheimer restated a “buy” rating and issued a $350.00 target price on shares of Atlassian in a report on Friday, April 30th. Jefferies Financial Group reduced their target price on Atlassian from $250.00 to $240.00 and set a “hold” rating for the company in a report on Tuesday, May 18th. They noted that the move was a valuation call. Canaccord Genuity increased their target price on Atlassian from $260.00 to $275.00 and gave the company a “buy” rating in a report on Friday, April 30th. Finally, DA Davidson increased their target price on Atlassian from $275.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, April 14th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Atlassian currently has an average rating of “Buy” and a consensus target price of $259.50.

Shares of NASDAQ:TEAM opened at $238.56 on Friday. The firm has a market capitalization of $31.53 billion, a P/E ratio of -67.97, a P/E/G ratio of 44.97 and a beta of 0.82. The company has a 50-day simple moving average of $226.94. Atlassian Co. Plc has a 52-week low of $160.01 and a 52-week high of $262.40.

Atlassian Company Profile

Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. It provides project tracking, content creation and sharing, and service management products. The company's products include JIRA, a workflow management system that enables teams to plan, organize, track, and manage their work and projects; Confluence, a content collaboration platform that is used to create, share, organize, and discuss projects; and Trello, a collaboration and organization product, which captures and adds structure to fluid fast-forming work for teams.

Further Reading: Cost of Debt

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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