California Public Employees Retirement System Sells 13,769 Shares of Atlassian Co. (NASDAQ:TEAM)

California Public Employees Retirement System lessened its position in Atlassian Co. (NASDAQ:TEAM) by 5.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 259,441 shares of the technology company’s stock after selling 13,769 shares during the period. California Public Employees Retirement System’s holdings in Atlassian were worth $63,143,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Summit Securities Group LLC acquired a new position in Atlassian in the fourth quarter valued at about $38,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Atlassian in the fourth quarter valued at approximately $234,547,000. Biondo Investment Advisors LLC boosted its holdings in shares of Atlassian by 1.3% in the 4th quarter. Biondo Investment Advisors LLC now owns 33,372 shares of the technology company’s stock worth $8,122,000 after acquiring an additional 440 shares in the last quarter. Allstate Corp bought a new stake in Atlassian during the 4th quarter worth approximately $1,153,000. Finally, DnB Asset Management AS increased its holdings in Atlassian by 6.7% during the 4th quarter. DnB Asset Management AS now owns 27,793 shares of the technology company’s stock valued at $6,764,000 after purchasing an additional 1,746 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $209.73, for a total transaction of $1,666,934.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Gene Liu sold 568 shares of Atlassian stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.08, for a total value of $177,261.44. Following the completion of the sale, the chief accounting officer now directly owns 52,142 shares in the company, valued at approximately $16,272,475.36. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,981 shares of company stock worth $72,069,956 over the last quarter. 38.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several research analyst reports. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a report on Monday. Barclays raised their price objective on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Stephens initiated coverage on shares of Atlassian in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $255.00 target price on the stock. Morgan Stanley increased their price target 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. Finally, The Goldman Sachs Group boosted their price objective on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $310.18.

Atlassian Price Performance

TEAM opened at $216.41 on Wednesday. The company has a fifty day simple moving average of $267.68 and a 200 day simple moving average of $239.81. 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 cap of $56.70 billion, a P/E ratio of -161.50 and a beta of 0.91. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00.

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

About Atlassian

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.