New York State Common Retirement Fund Grows Position in Atlassian Co. (NASDAQ:TEAM)

New York State Common Retirement Fund lifted its position in Atlassian Co. (NASDAQ:TEAM) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 418,411 shares of the technology company’s stock after purchasing an additional 609 shares during the quarter. New York State Common Retirement Fund’s holdings in Atlassian were worth $99,523,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TEAM. Baillie Gifford & Co. grew its stake in shares of Atlassian by 20.7% during the fourth 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 during the last quarter. Morgan Stanley increased its position in shares of Atlassian by 156.8% in the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock valued at $361,449,000 after acquiring an additional 1,095,297 shares during the period. WCM Investment Management LLC increased its position in shares of Atlassian by 2.7% in 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 acquiring an additional 249,017 shares during the period. American Century Companies Inc. grew its position in 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 purchasing an additional 159,102 shares during the period. Finally, Invesco Ltd. grew its position in shares of Atlassian by 45.8% during the 3rd quarter. Invesco Ltd. now owns 476,920 shares of the technology company’s stock valued at $96,104,000 after acquiring an additional 149,850 shares during the period. 93.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on TEAM. Citigroup dropped their price target 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. Truist Financial upped their target price on shares of Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a research report on Tuesday, January 16th. KeyCorp started coverage on shares of Atlassian in a report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Finally, Mizuho cut their target price on shares of Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $224.25.

Atlassian Trading Up 2.5 %

TEAM stock traded up $4.92 during trading hours on Tuesday, hitting $199.19. The company’s stock had a trading volume of 380,393 shares, compared to its average volume of 1,686,768. 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 Co. has a 12 month low of $128.02 and a 12 month high of $258.69. The stock has a 50 day moving average price of $201.39 and a two-hundred day moving average price of $206.80.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) 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 the consensus estimate of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. Analysts predict that Atlassian Co. will post -0.4 EPS for the current fiscal year.

Insider Activity at Atlassian

In related news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the completion of the transaction, the chief executive officer now directly owns 346,122 shares in the company, valued at approximately $87,752,310.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $193.63, for a total transaction of $147,158.80. Following the completion of the sale, the president now owns 162,610 shares in the company, valued at approximately $31,486,174.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the sale, the chief executive officer now directly owns 346,122 shares in the company, valued at approximately $87,752,310.66. The disclosure for this sale can be found here. Insiders sold a total of 299,690 shares of company stock worth $62,392,994 in the last ninety days. 40.48% of the stock is currently owned by 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.