Citigroup Inc. Has $53.03 Million Position in Atlassian Co. (NASDAQ:TEAM)

Citigroup Inc. increased its holdings in shares of Atlassian Co. (NASDAQ:TEAMFree Report) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 263,156 shares of the technology company’s stock after buying an additional 14,919 shares during the quarter. Citigroup Inc. owned 0.10% of Atlassian worth $53,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Atlassian by 29.9% in the first quarter. Dimensional Fund Advisors LP now owns 201,552 shares of the technology company’s stock valued at $59,233,000 after purchasing an additional 46,418 shares during the last quarter. Cetera Investment Advisers raised its position in Atlassian by 6.0% in the first quarter. Cetera Investment Advisers now owns 1,755 shares of the technology company’s stock valued at $516,000 after purchasing an additional 100 shares during the last quarter. Baird Financial Group Inc. raised its position in Atlassian by 7.9% in the first quarter. Baird Financial Group Inc. now owns 115,967 shares of the technology company’s stock valued at $34,075,000 after purchasing an additional 8,491 shares during the last quarter. Pearl River Capital LLC bought a new position in Atlassian in the first quarter valued at about $1,163,000. Finally, USS Investment Management Ltd bought a new position in Atlassian in the first quarter valued at about $6,015,000. 53.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Joseph Leo Binz sold 894 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $184.97, for a total value of $165,363.18. Following the transaction, the chief financial officer now owns 103,765 shares in the company, valued at $19,193,412.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Joseph Leo Binz sold 894 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $184.97, for a total value of $165,363.18. Following the transaction, the chief financial officer now owns 103,765 shares in the company, valued at $19,193,412.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gene Liu sold 185 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $184.97, for a total value of $34,219.45. Following the completion of the transaction, the insider now owns 52,021 shares in the company, valued at approximately $9,622,324.37. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 313,388 shares of company stock worth $67,804,104. Corporate insiders own 40.48% of the company’s stock.

Atlassian Stock Up 3.0 %

Shares of NASDAQ:TEAM opened at $218.76 on Monday. The business’s 50 day simple moving average is $229.40 and its two-hundred day simple moving average is $204.18. The firm has a market cap of $56.75 billion, a P/E ratio of -146.82 and a beta of 0.70. 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 Co. has a 52-week low of $128.02 and a 52-week high of $258.69.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup increased their price target on Atlassian from $215.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. UBS Group decreased their price target on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Wells Fargo & Company increased their price target on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Piper Sandler decreased their price target on Atlassian from $200.00 to $180.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. Finally, Scotiabank assumed coverage on Atlassian in a research note on Friday, December 1st. They issued a “sector perform” rating and a $185.00 price target for the company. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and a consensus price target of $225.19.

Get Our Latest Report on Atlassian

About Atlassian

(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.

Further Reading

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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