Sumitomo Mitsui Trust Holdings Inc. Boosts Holdings in Atlassian Co. (NASDAQ:TEAM)

Sumitomo Mitsui Trust Holdings Inc. grew its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 405,127 shares of the technology company's stock after acquiring an additional 6,059 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.16% of Atlassian worth $96,364,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Louisiana State Employees Retirement System purchased a new stake in shares of Atlassian in the fourth quarter valued at $2,926,000. WCM Investment Management LLC grew its holdings in shares of Atlassian by 2.7% in the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company's stock worth $2,325,490,000 after purchasing an additional 249,017 shares during the last quarter. Graypoint LLC grew its holdings in shares of Atlassian by 2.4% in the fourth quarter. Graypoint LLC now owns 1,784 shares of the technology company's stock worth $424,000 after purchasing an additional 42 shares during the last quarter. Perigon Wealth Management LLC bought a new position in shares of Atlassian in the fourth quarter worth about $214,000. Finally, Cerity Partners LLC grew its holdings in shares of Atlassian by 31.1% in the fourth quarter. Cerity Partners LLC now owns 3,965 shares of the technology company's stock worth $943,000 after purchasing an additional 941 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company's stock.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm's stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $197.46, for a total transaction of $1,627,267.86. Following the sale, the chief executive officer now owns 424,137 shares of the company's stock, valued at approximately $83,750,092.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction on Friday, March 15th. The shares were sold at an average price of $201.05, for a total transaction of $305,596.00. Following the sale, the president now owns 163,370 shares of the company's stock, valued at approximately $32,845,538.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction on Monday, April 15th. The stock was sold at an average price of $197.46, for a total transaction of $1,627,267.86. Following the sale, the chief executive officer now directly owns 424,137 shares in the company, valued at approximately $83,750,092.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 301,400 shares of company stock valued at $63,653,875. 40.48% of the stock is owned by insiders.

Atlassian Stock Performance

Shares of Atlassian stock traded up $0.22 during midday trading on Wednesday, hitting $195.07. The company had a trading volume of 1,390,166 shares, compared to its average volume of 1,711,695. The stock has a market cap of $50.60 billion, a price-to-earnings ratio of -131.93 and a beta of 0.63. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. The company has a fifty day simple moving average of $203.04 and a 200 day simple moving average of $206.74. Atlassian Co. has a 12-month low of $128.02 and a 12-month high of $258.69.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.02 billion. As a group, analysts predict that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TEAM shares. KeyCorp started coverage on shares of Atlassian in a report on Tuesday, March 19th. They issued a "sector weight" rating on the stock. William Blair restated an "outperform" rating on shares of Atlassian in a report on Friday, February 2nd. UBS Group dropped their target price on shares of Atlassian from $260.00 to $250.00 and set a "neutral" rating on the stock in a report on Friday, February 2nd. Citigroup dropped their target price on shares of Atlassian from $280.00 to $265.00 and set a "buy" rating on the stock in a report on Friday, April 12th. Finally, Wells Fargo & Company increased their target price on shares of Atlassian from $275.00 to $285.00 and gave the stock an "overweight" rating in a report on Wednesday, January 24th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Atlassian presently has a consensus rating of "Hold" and a consensus price target of $224.25.

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.