Truist Financial Corp Has $22.51 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

Truist Financial Corp cut its holdings in Atlassian Co. (NASDAQ:TEAM) by 22.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,648 shares of the technology company’s stock after selling 26,641 shares during the period. Truist Financial Corp’s holdings in Atlassian were worth $22,513,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. OFI Invest Asset Management bought a new stake in Atlassian during the 3rd quarter worth about $26,000. Carmel Capital Partners LLC raised its holdings in Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after acquiring an additional 57 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Atlassian by 271.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after purchasing an additional 271 shares during the last quarter. Operose Advisors LLC acquired a new position in Atlassian during the third quarter valued at approximately $99,000. Finally, GAMMA Investing LLC bought a new position in Atlassian in the fourth quarter valued at approximately $107,000. Institutional investors own 93.03% of the company’s stock.

Atlassian Price Performance

TEAM stock opened at $177.07 on Tuesday. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The company’s 50-day simple moving average is $199.36 and its 200 day simple moving average is $206.52.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 15.54%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the business posted ($0.40) EPS. The business’s revenue was up 29.9% compared to the same quarter last year. Sell-side analysts forecast that Atlassian Co. will post -0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 4,139 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $881,068.93. Following the completion of the sale, the president now directly owns 167,535 shares in the company, valued at approximately $35,663,175.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $251.76, for a total transaction of $2,074,754.16. Following the completion of the sale, the chief executive officer now owns 329,640 shares of the company’s stock, valued at approximately $82,990,166.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 4,139 shares of Atlassian stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $881,068.93. Following the completion of the transaction, the president now directly owns 167,535 shares in the company, valued at $35,663,175.45. The disclosure for this sale can be found here. Insiders have sold a total of 300,450 shares of company stock worth $61,106,939 in the last 90 days. Company insiders own 40.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TEAM shares. TD Cowen decreased their target price on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research note on Friday. UBS Group lowered their price objective on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Oppenheimer dropped their target price on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday. William Blair reiterated an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. Finally, Citigroup dropped their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and a consensus target price of $223.22.

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.