American Century Companies Inc. Has $43.70 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

American Century Companies Inc. trimmed its holdings in Atlassian Co. (NASDAQ:TEAM) by 17.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 179,573 shares of the technology company’s stock after selling 37,480 shares during the quarter. American Century Companies Inc.’s holdings in Atlassian were worth $43,704,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Assetmark Inc. increased its position in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after acquiring an additional 41 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after purchasing an additional 47 shares in the last quarter. GAMMA Investing LLC raised its position in Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after purchasing an additional 54 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Atlassian by 4.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock worth $357,000 after buying an additional 56 shares in the last quarter. Finally, J.W. Cole Advisors Inc. increased its stake in shares of Atlassian by 1.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock valued at $963,000 after buying an additional 59 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Insider Activity

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares in the company, valued at $54,690,889.35. This trade represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Gene Liu sold 779 shares of Atlassian stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total transaction of $249,287.79. Following the completion of the transaction, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,033 shares of company stock worth $70,644,164 in the last quarter. Corporate insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Mizuho upped their price target on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Truist Financial reissued a “buy” rating and set a $350.00 price objective (up from $300.00) on shares of Atlassian in a report on Friday, January 31st. Piper Sandler raised their target price on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. UBS Group lifted their price objective on Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $330.00 target price (up previously from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $316.77.

Atlassian Trading Down 3.1 %

NASDAQ:TEAM opened at $222.64 on Friday. The company has a market cap of $58.33 billion, a P/E ratio of -166.15 and a beta of 0.91. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The business has a 50 day moving average price of $269.96 and a two-hundred day moving average price of $237.69. 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 (NASDAQ:TEAM) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. As a group, analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Atlassian Company 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.