California State Teachers Retirement System Trims Stake in Atlassian Co. (NASDAQ:TEAM)

California State Teachers Retirement System trimmed its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 246,380 shares of the technology company's stock after selling 6,338 shares during the quarter. California State Teachers Retirement System owned about 0.09% of Atlassian worth $59,964,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 111 Capital bought a new stake in Atlassian during the fourth quarter worth about $465,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Atlassian by 62.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,567 shares of the technology company's stock valued at $3,059,000 after acquiring an additional 4,837 shares during the last quarter. Siemens Fonds Invest GmbH lifted its stake in shares of Atlassian by 16.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,011 shares of the technology company's stock valued at $489,000 after acquiring an additional 289 shares during the last quarter. Menard Financial Group LLC bought a new stake in shares of Atlassian in the 4th quarter valued at about $810,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Atlassian in the 4th quarter valued at about $25,279,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Cantor Fitzgerald upgraded Atlassian from a "neutral" rating to an "overweight" rating and reduced their price target for the company from $304.00 to $272.00 in a report on Wednesday, April 2nd. Morgan Stanley reduced their price target on Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Macquarie reduced their price target on Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Mizuho boosted their price target on Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $285.29.

Atlassian Stock Down 4.3%

Shares of Atlassian stock traded down $9.10 during midday trading on Thursday, hitting $203.93. The company had a trading volume of 2,862,915 shares, compared to its average volume of 2,097,881. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $53.53 billion, a P/E ratio of -152.19 and a beta of 1.06. The company has a 50 day moving average of $211.78 and a 200 day moving average of $246.41. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. The business had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The firm's quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 EPS. On average, equities analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $278.61, for a total transaction of $2,214,392.28. Following the transaction, the director now directly owns 166,908 shares of the company's stock, valued at $46,502,237.88. This represents a 4.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Anutthara Bharadwaj sold 7,674 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total value of $1,730,563.74. Following the transaction, the president now directly owns 192,260 shares in the company, valued at $43,356,552.60. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 302,951 shares of company stock valued at $65,803,565. 38.55% of the stock is owned by corporate insiders.

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.