Atlassian Co. (NASDAQ:TEAM) Stake Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 2,826.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,652 shares of the technology company's stock after buying an additional 26,707 shares during the period. Allspring Global Investments Holdings LLC's holdings in Atlassian were worth $6,577,000 as of its most recent SEC filing.

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

Insider Activity at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 4,139 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $881,068.93. Following the sale, the president now directly owns 167,535 shares of the company's stock, valued at approximately $35,663,175.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Atlassian news, CAO Gene Liu sold 227 shares of the company's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $48,321.49. Following the transaction, the chief accounting officer now owns 47,066 shares in the company, valued at $10,018,939.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 4,139 shares of the company's stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $881,068.93. Following the completion of the sale, the president now owns 167,535 shares of the company's stock, valued at approximately $35,663,175.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 298,930 shares of company stock valued at $62,707,908. 40.48% of the stock is owned by insiders.

Atlassian Stock Performance

Atlassian stock traded down $2.06 during midday trading on Friday, hitting $191.55. The company's stock had a trading volume of 1,768,975 shares, compared to its average volume of 1,704,210. Atlassian Co. has a 1-year low of $128.02 and a 1-year high of $258.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The company has a 50-day moving average price of $201.83 and a two-hundred day moving average price of $206.53. The company has a market cap of $49.69 billion, a price-to-earnings ratio of -128.56 and a beta of 0.63.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The business 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%. As a group, sell-side analysts predict that Atlassian Co. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. KeyCorp assumed coverage on shares of Atlassian in a report on Tuesday, March 19th. They issued a "sector weight" rating on the stock. The Goldman Sachs Group increased their price objective on shares of Atlassian from $188.00 to $215.00 and gave the stock a "neutral" rating in a research report on Friday, February 2nd. William Blair reaffirmed an "outperform" rating on shares of Atlassian in a research report on Friday, February 2nd. Barclays raised shares of Atlassian from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. Finally, Citigroup decreased their price objective on shares of Atlassian from $280.00 to $265.00 and set a "buy" rating for the company in a research report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $224.25.

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.