Atlassian Co. (NASDAQ:TEAM) Position Trimmed by US Bancorp DE

US Bancorp DE reduced its holdings in Atlassian Co. (NASDAQ:TEAM) by 3.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 28,131 shares of the technology company’s stock after selling 1,036 shares during the quarter. US Bancorp DE’s holdings in Atlassian were worth $6,847,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Virtu Financial LLC bought a new position in Atlassian in the third quarter worth about $606,000. Fulton Bank N.A. acquired a new stake in shares of Atlassian during the 4th quarter worth approximately $447,000. Paloma Partners Management Co bought a new stake in shares of Atlassian in the 3rd quarter worth approximately $1,588,000. Allworth Financial LP boosted its position in Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after purchasing an additional 47 shares during the period. Finally, Impax Asset Management Group plc grew its stake in Atlassian by 590.6% during the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after buying an additional 31,986 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of recent research reports. Morgan Stanley raised their target price on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Scotiabank lifted their price objective on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. JMP Securities restated a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Barclays lifted their price target on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Cantor Fitzgerald boosted their price objective on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 15,896 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the sale, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at $104,529,711.60. The trade was a 3.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $269.35, for a total value of $2,140,793.80. Following the completion of the sale, the director now owns 111,272 shares of the company’s stock, valued at $29,971,113.20. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 272,501 shares of company stock worth $75,129,229. Company insiders own 38.55% of the company’s stock.

Atlassian Trading Down 0.2 %

Atlassian stock opened at $273.62 on Wednesday. The firm has a market cap of $71.69 billion, a price-to-earnings ratio of -204.19 and a beta of 0.87. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The firm’s 50 day moving average price is $276.03 and its two-hundred day moving average price is $230.63. 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 (NASDAQ:TEAM) last issued its earnings results 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%. On average, research analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

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.