Atlassian Co. (NASDAQ:TEAM) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,685 shares of the technology company’s stock after selling 268 shares during the period. PNC Financial Services Group Inc.’s holdings in Atlassian were worth $6,008,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TEAM. Machina Capital S.A.S. lifted its position in shares of Atlassian by 3.3% during the fourth quarter. Machina Capital S.A.S. now owns 5,238 shares of the technology company’s stock worth $1,275,000 after purchasing an additional 168 shares during the last quarter. Mesirow Financial Investment Management Inc. bought a new position in shares of Atlassian during the fourth quarter worth about $229,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Atlassian during the fourth quarter worth about $326,000. E Fund Management Co. Ltd. lifted its position in shares of Atlassian by 28.3% during the fourth quarter. E Fund Management Co. Ltd. now owns 1,916 shares of the technology company’s stock worth $466,000 after purchasing an additional 423 shares during the last quarter. Finally, Candriam S.C.A. lifted its position in shares of Atlassian by 12.7% during the fourth quarter. Candriam S.C.A. now owns 11,740 shares of the technology company’s stock worth $2,857,000 after purchasing an additional 1,319 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

NASDAQ TEAM opened at $226.44 on Thursday. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $59.33 billion, a PE ratio of -168.98 and a beta of 0.91. The company’s 50 day simple moving average is $274.77 and its 200 day simple moving average is $233.52.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data 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 net margin of 7.22% and a negative return on equity of 17.37%. As a group, equities research analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $218.05, for a total value of $1,733,061.40. Following the transaction, the director now owns 119,220 shares of the company’s stock, valued at approximately $25,995,921. This represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the transaction, the president now directly owns 211,991 shares in the company, valued at $54,006,827.16. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 264,553 shares of company stock worth $72,358,556 over the last quarter. 38.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TEAM shares. Cantor Fitzgerald increased their price target on shares of Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Macquarie raised their target price on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Mizuho raised their target price on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. UBS Group raised their target price on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, JMP Securities reissued a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus 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.