Bank of New York Mellon Corp Sells 9,887 Shares of Atlassian Co. (NASDAQ:TEAM)

Bank of New York Mellon Corp lessened its holdings in Atlassian Co. (NASDAQ:TEAM) by 1.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 758,773 shares of the technology company’s stock after selling 9,887 shares during the period. Bank of New York Mellon Corp owned about 0.29% of Atlassian worth $184,670,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC raised its position in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares during the period. Avion Wealth raised its holdings in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after purchasing an additional 157 shares during the period. Reston Wealth Management LLC bought a new position in Atlassian in the 3rd quarter worth $48,000. Kestra Investment Management LLC purchased a new position in Atlassian during the fourth quarter valued at $56,000. Finally, Brown Brothers Harriman & Co. grew its holdings in Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 82 shares during the period. Institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the topic of several recent research reports. Piper Sandler raised their price objective on Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley raised their target price on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Mizuho upped their price target on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Macquarie raised their price objective on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company lifted their target price on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $278.48 on Friday. The firm has a fifty day simple moving average of $274.16 and a two-hundred day simple moving average of $226.35. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $72.96 billion, a P/E ratio of -207.82 and a beta of 0.87. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. On average, analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 568 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the transaction, the chief accounting officer now owns 52,142 shares in the company, valued at $16,272,475.36. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $322.31, for a total value of $2,561,719.88. Following the completion of the sale, the chief executive officer now owns 270,232 shares in the company, valued at approximately $87,098,475.92. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 275,501 shares of company stock valued at $75,853,687. 38.55% 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.