Atlassian Co. (NASDAQ:TEAM) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its position in Atlassian Co. (NASDAQ:TEAM) by 11.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 39,548 shares of the technology company’s stock after selling 5,306 shares during the period. Truist Financial Corp’s holdings in Atlassian were worth $9,625,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its holdings in Atlassian by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after buying an additional 78,454 shares during the last quarter. State Street Corp boosted its holdings in shares of Atlassian by 0.3% during the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after purchasing an additional 8,957 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Atlassian by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after purchasing an additional 131,621 shares during the last quarter. FMR LLC boosted its holdings in shares of Atlassian by 7.4% during the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after purchasing an additional 150,237 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Atlassian by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock worth $340,453,000 after purchasing an additional 57,911 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Performance

NASDAQ:TEAM opened at $285.99 on Friday. The company has a fifty day simple moving average of $272.83 and a two-hundred day simple moving average of $221.70. The company has a market cap of $74.93 billion, a price-to-earnings ratio of -213.42 and a beta of 0.87. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

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

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $236.89, for a total value of $1,882,801.72. Following the completion of the transaction, the chief executive officer now owns 421,244 shares in the company, valued at $99,788,491.16. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 1,723 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total transaction of $526,962.32. Following the completion of the transaction, the president now owns 199,934 shares of the company’s stock, valued at $61,147,814.56. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 283,449 shares of company stock worth $77,580,151. Corporate insiders own 38.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TEAM. Raymond James restated an “outperform” rating and set a $330.00 target price (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. Truist Financial restated a “buy” rating and set a $350.00 target price (up from $300.00) on shares of Atlassian in a report on Friday, January 31st. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a report on Friday. UBS Group boosted their target price on Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company lifted their price target on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $319.71.

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.