Peregrine Capital Management LLC Decreases Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Peregrine Capital Management LLC reduced its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,712 shares of the technology company's stock after selling 5,831 shares during the quarter. Atlassian makes up 1.0% of Peregrine Capital Management LLC's portfolio, making the stock its 22nd biggest holding. Peregrine Capital Management LLC owned approximately 0.06% of Atlassian worth $34,183,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Legacy Wealth Asset Management LLC increased its stake in Atlassian by 1.4% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company's stock worth $736,000 after acquiring an additional 43 shares during the last quarter. Park National Corp OH increased its stake in Atlassian by 3.5% during the fourth quarter. Park National Corp OH now owns 1,439 shares of the technology company's stock worth $342,000 after acquiring an additional 48 shares during the last quarter. UMB Bank n.a. increased its stake in Atlassian by 5.7% during the fourth quarter. UMB Bank n.a. now owns 1,041 shares of the technology company's stock worth $248,000 after acquiring an additional 56 shares during the last quarter. Carmel Capital Partners LLC increased its stake in Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company's stock worth $52,000 after acquiring an additional 57 shares during the last quarter. Finally, Personal CFO Solutions LLC increased its stake in Atlassian by 1.0% during the third quarter. Personal CFO Solutions LLC now owns 6,136 shares of the technology company's stock worth $1,236,000 after acquiring an additional 59 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Performance

Shares of TEAM traded up $4.37 during mid-day trading on Tuesday, hitting $202.92. The stock had a trading volume of 1,701,163 shares, compared to its average volume of 1,700,000. The company has a market cap of $52.64 billion, a PE ratio of -136.19 and a beta of 0.63. The company's fifty day simple moving average is $205.75 and its two-hundred day simple moving average is $206.54. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. On average, equities analysts expect that Atlassian Co. will post -0.4 earnings per share for the current year.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $192.21, for a total value of $1,584,002.61. Following the sale, the chief executive officer now owns 24,723 shares of the company's stock, valued at approximately $4,752,007.83. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction on Monday, March 25th. The stock was sold at an average price of $192.21, for a total transaction of $1,584,002.61. Following the sale, the chief executive officer now owns 24,723 shares of the company's stock, valued at approximately $4,752,007.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 2,470 shares of Atlassian stock in a transaction on Friday, January 19th. The shares were sold at an average price of $240.55, for a total value of $594,158.50. Following the sale, the president now directly owns 171,674 shares in the company, valued at approximately $41,296,180.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 301,400 shares of company stock worth $64,595,574. 40.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. The Goldman Sachs Group upped their price target on Atlassian from $188.00 to $215.00 and gave the stock a "neutral" rating in a research note on Friday, February 2nd. StockNews.com downgraded Atlassian from a "buy" rating to a "hold" rating in a research report on Tuesday, March 19th. UBS Group decreased their target price on Atlassian from $260.00 to $250.00 and set a "neutral" rating for the company in a research report on Friday, February 2nd. Truist Financial upped their target price on Atlassian from $180.00 to $220.00 and gave the stock a "hold" rating in a research report on Tuesday, January 16th. Finally, Wells Fargo & Company upped their target price on Atlassian from $275.00 to $285.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 24th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $225.19.

About Atlassian

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.