Atlassian Co. (NASDAQ:TEAM) Stock Position Decreased by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 259,441 shares of the technology company’s stock after selling 13,769 shares during the period. California Public Employees Retirement System owned approximately 0.10% of Atlassian worth $63,143,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Murphy & Mullick Capital Management Corp acquired a new position in Atlassian in the 4th quarter worth approximately $27,000. Summit Securities Group LLC purchased a new stake in Atlassian in the 4th quarter worth about $38,000. Avion Wealth boosted its position in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after acquiring an additional 157 shares during the period. Assetmark Inc. grew its stake in Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after acquiring an additional 41 shares in the last quarter. Finally, Mainstream Capital Management LLC acquired a new stake in shares of Atlassian during the fourth quarter worth approximately $49,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Up 2.0 %

TEAM opened at $216.41 on Wednesday. The business has a 50 day moving average of $267.68 and a 200-day moving average of $239.81. The stock has a market capitalization of $56.70 billion, a price-to-earnings ratio of -161.50 and a beta of 0.91. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TEAM. Morgan Stanley upped their price objective on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Stephens assumed coverage on Atlassian in a report on Wednesday, March 19th. They set an “equal weight” rating and a $255.00 price objective for the company. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Cantor Fitzgerald lifted their price target on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, JMP Securities restated a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $310.18.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Monday, March 31st. The shares were sold at an average price of $209.73, for a total transaction of $1,666,934.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the transaction, the president now owns 210,471 shares of the company’s stock, valued at approximately $54,690,889.35. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 270,981 shares of company stock valued at $72,069,956 over the last three months. 38.55% of the stock is owned by corporate insiders.

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.