Maryland State Retirement & Pension System Sells 481 Shares of Atlassian Co. (NASDAQ:TEAM)

Maryland State Retirement & Pension System cut its stake in Atlassian Co. (NASDAQ:TEAM) by 5.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,500 shares of the technology company’s stock after selling 481 shares during the period. Maryland State Retirement & Pension System’s holdings in Atlassian were worth $2,069,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp grew its stake in shares of Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after acquiring an additional 8,957 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after acquiring an additional 131,621 shares during the period. FMR LLC grew its stake in shares of Atlassian by 7.4% in the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after acquiring an additional 150,237 shares during the period. Geode Capital Management LLC grew its stake in shares of Atlassian by 2.8% in the third quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock worth $340,453,000 after acquiring an additional 57,911 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Atlassian by 5.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,210,351 shares of the technology company’s stock worth $192,216,000 after acquiring an additional 58,536 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Atlassian Price Performance

TEAM stock opened at $226.16 on Friday. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company’s fifty day moving average price is $271.54 and its 200-day moving average price is $235.36. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $59.25 billion, a PE ratio of -168.77 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results 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 return on equity of 17.37% and a negative net margin of 7.22%. On average, equities analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TEAM shares. Truist Financial restated a “buy” rating and set a $350.00 target price (up from $300.00) on shares of Atlassian in a research report on Friday, January 31st. Piper Sandler boosted their target price on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Oppenheimer boosted their target price on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. The Goldman Sachs Group boosted their target price on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Finally, Citigroup boosted their target price on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $316.77.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was 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 in the company, valued at $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Gene Liu sold 779 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the transaction, the chief accounting officer now owns 52,710 shares of the company’s stock, valued at $16,867,727.10. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 255,085 shares of company stock worth $69,211,537. Insiders own 38.55% of the company’s stock.

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.