Atlassian Co. (NASDAQ:TEAM) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lowered its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 20.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,534,913 shares of the technology company's stock after selling 1,657,607 shares during the period. Price T Rowe Associates Inc. MD owned approximately 2.49% of Atlassian worth $1,590,468,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TEAM. Murphy & Mullick Capital Management Corp bought a new position in Atlassian in the 4th quarter valued at about $27,000. Summit Securities Group LLC bought a new position in Atlassian in the fourth quarter valued at approximately $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Atlassian during the fourth quarter valued at approximately $39,000. Avion Wealth lifted its stake in Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after purchasing an additional 157 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in 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. 94.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of recent analyst reports. Macquarie upgraded Atlassian from a "neutral" rating to an "outperform" rating and decreased their target price for the company from $317.00 to $270.00 in a research report on Thursday, April 10th. UBS Group decreased their price target on shares of Atlassian from $330.00 to $230.00 and set a "neutral" rating on the stock in a report on Tuesday, April 1st. BMO Capital Markets dropped their price objective on shares of Atlassian from $360.00 to $295.00 and set an "outperform" rating for the company in a research note on Thursday, April 10th. William Blair reaffirmed an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Cantor Fitzgerald upgraded Atlassian from a "neutral" rating to an "overweight" rating and dropped their price target for the company from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $301.90.

Atlassian Stock Performance

NASDAQ:TEAM traded down $0.21 on Monday, hitting $228.47. The stock had a trading volume of 688,822 shares, compared to its average volume of 2,305,618. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The stock has a market cap of $59.86 billion, a price-to-earnings ratio of -170.50 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The business's 50-day simple moving average is $229.25 and its two-hundred day simple moving average is $244.62.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. As a group, research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $210.23, for a total transaction of $1,670,908.04. Following the completion of the sale, the chief executive officer now directly owns 246,388 shares in the company, valued at $51,798,149.24. This represents a 3.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Gene Liu sold 568 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.08, for a total value of $177,261.44. Following the transaction, the chief accounting officer now owns 52,142 shares in the company, valued at approximately $16,272,475.36. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 253,565 shares of company stock valued at $64,045,540 in the last three months. 38.55% of the stock is currently owned by corporate insiders.

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.