CNB Bank Purchases 71 Shares of Atlassian Co. (NASDAQ:TEAM)

CNB Bank boosted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 4.8% during the 4th quarter, Holdings Channel reports. The firm owned 1,545 shares of the technology company’s stock after acquiring an additional 71 shares during the quarter. CNB Bank’s holdings in Atlassian were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of TEAM. Vanguard Group Inc. raised its position in Atlassian by 0.8% during the third quarter. Vanguard Group Inc. now owns 14,851,471 shares of the technology company’s stock worth $2,992,720,000 after acquiring an additional 112,482 shares during the period. WCM Investment Management LLC raised its holdings in Atlassian by 2.7% in the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after acquiring an additional 249,017 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Atlassian by 20.7% during the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after purchasing an additional 1,511,318 shares in the last quarter. BlackRock Inc. raised its holdings in Atlassian by 26.0% during the first quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company’s stock worth $1,294,640,000 after purchasing an additional 1,561,804 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in shares of Atlassian by 1.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock valued at $1,218,765,000 after acquiring an additional 63,903 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on TEAM shares. UBS Group lowered their price objective on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. KeyCorp initiated coverage on shares of Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating for the company. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $235.00 to $275.00 in a research note on Thursday, April 11th. Truist Financial boosted their target price on Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a report on Tuesday, January 16th. Finally, Mizuho decreased their price target on Atlassian from $265.00 to $240.00 and set a “buy” rating for the company in a report on Monday, April 15th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $224.25.

Insider Buying and Selling

In other Atlassian news, CAO Gene Liu sold 227 shares of Atlassian stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $48,321.49. Following the transaction, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Gene Liu sold 227 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the sale, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Anutthara Bharadwaj sold 4,139 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $881,068.93. Following the sale, the president now directly owns 167,535 shares of the company’s stock, valued at $35,663,175.45. The disclosure for this sale can be found here. Insiders have sold 298,930 shares of company stock worth $62,707,908 in the last 90 days. Insiders own 40.48% of the company’s stock.

Atlassian Stock Down 1.1 %

Shares of NASDAQ:TEAM traded down $2.06 during mid-day trading on Friday, reaching $191.55. 1,769,243 shares of the stock were exchanged, compared to its average volume of 1,464,101. 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 market cap of $49.69 billion, a P/E ratio of -128.56 and a beta of 0.63. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69. The stock’s 50 day simple moving average is $201.83 and its 200-day simple moving average is $206.53.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results 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 firm had revenue of $1.06 billion for 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, equities research analysts predict that Atlassian Co. will post -0.4 EPS for the current year.

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.