Maryland State Retirement & Pension System Boosts Stock Position in Atlassian Co. (NASDAQ:TEAM)

Maryland State Retirement & Pension System grew its holdings in Atlassian Co. (NASDAQ:TEAM) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,062 shares of the technology company’s stock after purchasing an additional 1,013 shares during the period. Maryland State Retirement & Pension System’s holdings in Atlassian were worth $2,869,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. lifted its holdings in Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after buying an additional 1,511,318 shares in the last quarter. Morgan Stanley increased its holdings in Atlassian by 156.8% during the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after purchasing an additional 1,095,297 shares during the period. WCM Investment Management LLC raised its position in Atlassian by 2.7% during the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after purchasing an additional 249,017 shares in the last quarter. American Century Companies Inc. grew its position in shares of Atlassian by 58.7% during the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock worth $86,672,000 after buying an additional 159,102 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Atlassian by 45.8% during the third quarter. Invesco Ltd. now owns 476,920 shares of the technology company’s stock valued at $96,104,000 after buying an additional 149,850 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $172.99, for a total transaction of $1,425,610.59. Following the completion of the sale, the chief executive officer now directly owns 325,245 shares in the company, valued at $56,264,132.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $172.99, for a total transaction of $1,425,610.59. Following the transaction, the chief executive officer now owns 325,245 shares in the company, valued at $56,264,132.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $200.00, for a total transaction of $152,000.00. Following the completion of the sale, the president now directly owns 161,850 shares of the company’s stock, valued at approximately $32,370,000. The disclosure for this sale can be found here. Insiders sold 308,691 shares of company stock valued at $61,400,649 over the last quarter. 40.48% of the stock is currently owned by insiders.

Atlassian Price Performance

Shares of Atlassian stock traded down $5.37 on Wednesday, reaching $178.75. The company’s stock had a trading volume of 171,894 shares, compared to its average volume of 1,745,476. 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 capitalization of $46.53 billion, a P/E ratio of -292.25 and a beta of 0.67. The stock has a 50-day moving average price of $196.34 and a 200-day moving average price of $205.97. Atlassian Co. has a 52-week low of $128.02 and a 52-week high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the firm posted ($0.40) earnings per share. The company’s revenue was up 29.9% compared to the same quarter last year. Analysts expect that Atlassian Co. will post -0.29 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group upped 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. TD Cowen reduced their price target on Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, April 26th. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. Finally, Citigroup reduced their price objective on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $223.22.

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.