Charles Schwab Investment Management Inc. Purchases 65,564 Shares of Atlassian Co. (NASDAQ:TEAM)

Charles Schwab Investment Management Inc. grew its position in Atlassian Co. (NASDAQ:TEAMFree Report) by 15.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 493,326 shares of the technology company’s stock after purchasing an additional 65,564 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.19% of Atlassian worth $99,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of TEAM. BlackRock Inc. boosted its position in shares of Atlassian by 26.0% in the first quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company’s stock worth $1,294,640,000 after purchasing an additional 1,561,804 shares during the period. Durable Capital Partners LP purchased a new position in shares of Atlassian in the first quarter worth $434,144,000. Norges Bank purchased a new position in shares of Atlassian in the fourth quarter worth $138,509,000. SRS Investment Management LLC purchased a new position in shares of Atlassian in the second quarter worth $164,186,000. Finally, State Street Corp lifted its holdings in shares of Atlassian by 41.0% in the first quarter. State Street Corp now owns 2,979,809 shares of the technology company’s stock worth $510,032,000 after buying an additional 866,979 shares in the last quarter. 53.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several research analyst reports. William Blair reissued an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. The Goldman Sachs Group boosted their target price on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Scotiabank began coverage on shares of Atlassian in a research note on Friday, December 1st. They set a “sector perform” rating and a $185.00 price target on the stock. UBS Group decreased their price target 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. Finally, Citigroup upped their price target on shares of Atlassian from $215.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $225.19.

Get Our Latest Research Report on Atlassian

Atlassian Price Performance

Shares of Atlassian stock opened at $218.76 on Friday. Atlassian Co. has a 1 year low of $128.02 and a 1 year high of $258.69. The company has a current ratio of 1.07, a quick ratio of 1.43 and a debt-to-equity ratio of 1.04. The firm’s 50-day moving average is $229.40 and its two-hundred day moving average is $204.18.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $174.88, for a total value of $1,441,186.08. Following the transaction, the chief executive officer now owns 263,712 shares of the company’s stock, valued at approximately $46,117,954.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CTO Rajeev Bashyam Rajan sold 1,305 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $184.97, for a total transaction of $241,385.85. Following the transaction, the chief technology officer now directly owns 149,311 shares of the company’s stock, valued at $27,618,055.67. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $174.88, for a total value of $1,441,186.08. Following the transaction, the chief executive officer now directly owns 263,712 shares in the company, valued at $46,117,954.56. The disclosure for this sale can be found here. Insiders have sold a total of 321,629 shares of company stock valued at $69,245,290 in the last 90 days. Insiders own 40.48% of the company’s stock.

Atlassian Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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