California Public Employees Retirement System Grows Stake in Atlassian Co. (NASDAQ:TEAM)

California Public Employees Retirement System boosted its position in shares of Atlassian Co. (NASDAQ:TEAM) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 273,583 shares of the technology company’s stock after purchasing an additional 9,808 shares during the quarter. California Public Employees Retirement System owned about 0.11% of Atlassian worth $65,074,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Handelsbanken Fonder AB increased its holdings in shares of Atlassian by 10.6% in the 4th quarter. Handelsbanken Fonder AB now owns 47,120 shares of the technology company’s stock valued at $11,208,000 after acquiring an additional 4,509 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Atlassian by 13.2% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,838 shares of the technology company’s stock valued at $3,054,000 after acquiring an additional 1,495 shares during the period. abrdn plc increased its holdings in shares of Atlassian by 120.4% in the 4th quarter. abrdn plc now owns 56,086 shares of the technology company’s stock valued at $13,341,000 after acquiring an additional 30,636 shares during the period. CNB Bank increased its holdings in shares of Atlassian by 4.8% in the 4th quarter. CNB Bank now owns 1,545 shares of the technology company’s stock valued at $367,000 after acquiring an additional 71 shares during the period. Finally, Onyx Bridge Wealth Group LLC purchased a new position in shares of Atlassian in the 4th quarter valued at $303,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TEAM shares. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. UBS Group lowered their price objective on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Wells Fargo & Company raised their price objective on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Mizuho lowered their price objective on Atlassian from $265.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, April 15th. Finally, Citigroup lowered their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $224.25.

Insider Buying and Selling at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 4,139 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 $881,068.93. Following the completion of the transaction, the president now owns 167,535 shares in the company, valued at approximately $35,663,175.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $251.76, for a total value of $2,074,754.16. Following the completion of the transaction, the chief executive officer now owns 329,640 shares of the company’s stock, valued at approximately $82,990,166.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 4,139 shares of the company’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 $881,068.93. Following the completion of the transaction, the president now directly 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 quarter, insiders sold 300,450 shares of company stock worth $61,721,553. Insiders own 40.48% of the company’s stock.

Atlassian Stock Performance

Shares of TEAM opened at $198.41 on Friday. The stock has a 50-day moving average of $200.55 and a two-hundred day moving average of $206.69. The stock has a market cap of $51.47 billion, a P/E ratio of -133.16 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 company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. As a group, research analysts predict that Atlassian Co. will post -0.4 EPS for the current 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.