Carnegie Capital Asset Management LLC Has $1.75 Million Stake in Atlassian Co. (NASDAQ:TEAM)

Carnegie Capital Asset Management LLC grew its position in Atlassian Co. (NASDAQ:TEAM) by 4.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,364 shares of the technology company’s stock after buying an additional 320 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Atlassian were worth $1,752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Atlassian by 12.4% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock worth $14,763,000 after acquiring an additional 8,073 shares during the last quarter. Arkadios Wealth Advisors bought a new position in Atlassian in the 4th quarter worth approximately $202,000. American Century Companies Inc. boosted its position in Atlassian by 58.7% in the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after buying an additional 159,102 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Atlassian during the fourth quarter worth $13,805,000. Finally, Royal Bank of Canada boosted its holdings in Atlassian by 17.3% in the third quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock valued at $76,862,000 after acquiring an additional 56,149 shares during the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction on Monday, March 25th. The shares were 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 directly owns 24,723 shares in the company, 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 link. In other Atlassian 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 completion of the transaction, the chief executive officer now directly owns 24,723 shares in the company, valued at $4,752,007.83. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $201.05, for a total value of $305,596.00. Following the transaction, the president now directly owns 163,370 shares in the company, valued at approximately $32,845,538.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,159 shares of company stock worth $62,026,607. 40.48% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target 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. UBS Group dropped their target price on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. Capital One Financial initiated coverage on Atlassian in a research note on Monday, December 18th. They set an “equal weight” rating and a $238.00 price objective for the company. Finally, KeyCorp started coverage on Atlassian in a research note on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $224.25.

Atlassian Stock Performance

Shares of Atlassian stock opened at $191.84 on Tuesday. 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 firm has a market cap of $49.77 billion, a price-to-earnings ratio of -128.75 and a beta of 0.63. The stock’s 50-day moving average is $203.83 and its 200-day moving average is $206.83. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69.

Atlassian (NASDAQ:TEAM) last released 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 the consensus estimate of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. Equities analysts predict that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

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.