Public Employees Retirement Association of Colorado Sells 819 Shares of Atlassian Co. (NASDAQ:TEAM)

Public Employees Retirement Association of Colorado trimmed its holdings in Atlassian Co. (NASDAQ:TEAM) by 3.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,247 shares of the technology company’s stock after selling 819 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Atlassian were worth $4,341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after buying an additional 904,138 shares during the period. BOKF NA boosted its position in Atlassian by 15.7% during the first quarter. BOKF NA now owns 7,047 shares of the technology company’s stock valued at $1,363,000 after purchasing an additional 955 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Atlassian in the first quarter worth about $426,000. Lazard Asset Management LLC boosted its holdings in Atlassian by 1,089.4% in the first quarter. Lazard Asset Management LLC now owns 35,764 shares of the technology company’s stock worth $6,976,000 after acquiring an additional 32,757 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Atlassian in the first quarter worth about $55,307,000. 93.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Capital One Financial raised Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a research note on Thursday, July 11th. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $235.00 to $275.00 in a research note on Thursday, April 11th. Canaccord Genuity Group lowered their price objective on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Finally, Piper Sandler raised Atlassian from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $200.00 to $225.00 in a research note on Tuesday, July 2nd. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $228.81.

Atlassian Price Performance

NASDAQ TEAM traded up $0.75 on Monday, reaching $178.07. 766,063 shares of the stock traded hands, compared to its average volume of 1,701,330. The firm’s fifty day simple moving average is $170.19 and its 200 day simple moving average is $193.56. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. The company has a market cap of $46.35 billion, a price-to-earnings ratio of -281.46 and a beta of 0.74. Atlassian Co. has a 12 month low of $152.34 and a 12 month high of $258.69.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.40) earnings per share. As a group, research analysts predict that Atlassian Co. will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $169.47, for a total value of $1,346,947.56. Following the completion of the sale, the chief executive officer now owns 373,556 shares of the company’s stock, valued at $63,306,535.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $169.47, for a total value of $1,346,947.56. Following the completion of the transaction, the chief executive officer now owns 373,556 shares of the company’s stock, valued at approximately $63,306,535.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Anutthara Bharadwaj sold 4,856 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $184.26, for a total transaction of $894,766.56. Following the completion of the sale, the president now directly owns 156,994 shares in the company, valued at $28,927,714.44. The disclosure for this sale can be found here. Insiders have sold a total of 267,923 shares of company stock valued at $46,388,282 over the last three months. 40.48% of the stock is owned by corporate insiders.

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.