Atlassian Co. (NASDAQ:TEAM) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC increased its position in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,110 shares of the technology company's stock after acquiring an additional 1,121 shares during the quarter. MML Investors Services LLC's holdings in Atlassian were worth $3,678,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Corebridge Financial Inc. grew its stake in Atlassian by 0.3% in 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 in the last quarter. GeoWealth Management LLC increased its position in Atlassian by 26.8% during the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after purchasing an additional 38 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Atlassian by 30.6% during 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 last quarter. Allworth Financial LP increased its holdings in Atlassian by 3.1% in the fourth 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, GAMMA Investing LLC lifted its position in shares of Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock worth $71,000 after purchasing an additional 54 shares during the period. 94.45% of the stock is owned by institutional investors.

Insider Activity at Atlassian

In other news, CAO Gene Liu sold 779 shares of Atlassian stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the sale, the chief accounting officer now owns 52,710 shares of the company's stock, valued at $16,867,727.10. The trade was a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $308.86, for a total value of $2,454,819.28. Following the transaction, the director now owns 317,920 shares in the company, valued at $98,192,771.20. The trade was a 2.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 261,513 shares of company stock valued at $65,540,320 over the last 90 days. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Performance

Atlassian stock traded down $0.18 during mid-day trading on Wednesday, hitting $228.31. The company had a trading volume of 1,629,966 shares, compared to its average volume of 2,042,445. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The company's fifty day moving average is $226.37 and its 200-day moving average is $244.81. The company has a market capitalization of $59.82 billion, a price-to-earnings ratio of -170.38 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. Equities research analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Robert W. Baird upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and dropped their price objective for the company from $320.00 to $255.00 in a report on Monday, April 14th. Stephens reissued an "equal weight" rating and issued a $255.00 price objective on shares of Atlassian in a research report on Monday, April 14th. KeyCorp dropped their price objective on Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. UBS Group reduced their target price on shares of Atlassian from $330.00 to $230.00 and set a "neutral" rating for the company in a research note on Tuesday, April 1st. Finally, Mizuho increased their price objective on Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $301.90.

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.