First Hawaiian Bank Invests $292,000 in Atlassian Co. (NASDAQ:TEAM)

First Hawaiian Bank acquired a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,375 shares of the technology company's stock, valued at approximately $292,000.

Several other institutional investors have also recently bought and sold shares of the business. Corebridge Financial Inc. grew its stake in shares of Atlassian by 0.3% during the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after purchasing an additional 35 shares during the last quarter. GeoWealth Management LLC boosted its holdings in Atlassian by 26.8% in the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after acquiring an additional 38 shares during the last quarter. Assetmark Inc. increased its position in Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after purchasing an additional 41 shares during the period. Allworth Financial LP increased its position in Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after purchasing an additional 47 shares during the period. Finally, True Wealth Design LLC raised its holdings in Atlassian by 21.6% during the 4th quarter. True Wealth Design LLC now owns 282 shares of the technology company's stock worth $69,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TEAM shares. Wells Fargo & Company reduced their target price on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Baird R W raised shares of Atlassian from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Friday. Morgan Stanley cut their price target on Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Barclays decreased their price objective on Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Atlassian presently has a consensus rating of "Moderate Buy" and an average price target of $285.29.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $218.05, for a total transaction of $1,733,061.40. Following the sale, the director now directly owns 119,220 shares of the company's stock, valued at $25,995,921. The trade was a 6.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Anutthara Bharadwaj sold 1,731 shares of the company's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $214.87, for a total value of $371,939.97. Following the sale, the president now owns 190,529 shares in the company, valued at $40,938,966.23. The trade was a 0.90% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 310,899 shares of company stock worth $66,859,457. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Up 2.6%

TEAM stock traded up $5.26 during mid-day trading on Tuesday, hitting $210.89. 2,935,741 shares of the company were exchanged, compared to its average volume of 2,095,153. 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 1-year low of $135.29 and a 1-year high of $326.00. The firm's 50 day simple moving average is $209.85 and its 200 day simple moving average is $245.30. The firm has a market cap of $55.36 billion, a P/E ratio of -157.38 and a beta of 1.06.

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

Atlassian Company 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.