Allspring Global Investments Holdings LLC Boosts Holdings in Atlassian Co. (NASDAQ:TEAM)

Allspring Global Investments Holdings LLC increased its holdings in Atlassian Co. (NASDAQ:TEAM) by 2,826.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,652 shares of the technology company’s stock after buying an additional 26,707 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Atlassian were worth $6,577,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Legacy Wealth Asset Management LLC boosted its holdings in shares of Atlassian by 1.4% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock worth $736,000 after buying an additional 43 shares during the last quarter. Park National Corp OH boosted its holdings in shares of Atlassian by 3.5% in the fourth quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock worth $342,000 after buying an additional 48 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Atlassian by 5.7% in the fourth quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock worth $248,000 after buying an additional 56 shares during the last quarter. Carmel Capital Partners LLC lifted 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 valued at $52,000 after purchasing an additional 57 shares in the last quarter. Finally, Personal CFO Solutions LLC lifted its holdings in Atlassian by 1.0% during the third quarter. Personal CFO Solutions LLC now owns 6,136 shares of the technology company’s stock valued at $1,236,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Trading Down 0.7 %

Shares of TEAM opened at $193.61 on Friday. The company’s fifty day moving average is $202.37 and its 200 day moving average is $206.57. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The stock has a market capitalization of $50.22 billion, a PE ratio of -129.94 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Sell-side analysts expect that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TEAM. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Truist Financial lifted their price target on shares of Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. Citigroup lowered their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Finally, UBS Group lowered their price target on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a report on Friday, February 2nd. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $224.25.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 4,139 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $881,068.93. Following the sale, the president now owns 167,535 shares in the company, valued at $35,663,175.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Atlassian news, CAO Gene Liu sold 227 shares of Atlassian stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $48,321.49. Following the completion of the transaction, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at $10,018,939.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 4,139 shares of Atlassian 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 transaction, the president now directly owns 167,535 shares of the company’s stock, valued at $35,663,175.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 298,930 shares of company stock worth $62,707,908. Insiders own 40.48% 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.