Fifth Third Bancorp Sells 51 Shares of Atlassian Co. (NASDAQ:TEAM)

Fifth Third Bancorp lowered its position in Atlassian Co. (NASDAQ:TEAMFree Report) by 7.4% during the 4th quarter, Holdings Channel reports. The firm owned 639 shares of the technology company’s stock after selling 51 shares during the quarter. Fifth Third Bancorp’s holdings in Atlassian were worth $156,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TEAM. Thrivent Financial for Lutherans purchased a new stake in shares of Atlassian in the 2nd quarter worth $677,000. Truist Financial Corp raised its holdings in shares of Atlassian by 2.5% in the second quarter. Truist Financial Corp now owns 84,358 shares of the technology company’s stock valued at $14,921,000 after acquiring an additional 2,050 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Atlassian in the second quarter worth about $1,022,000. Handelsbanken Fonder AB grew its holdings in Atlassian by 2.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 69,552 shares of the technology company’s stock worth $11,046,000 after acquiring an additional 1,760 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TEAM. UBS Group upped their price target on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research report on Friday. Robert W. Baird boosted their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Canaccord Genuity Group raised their price objective on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Piper Sandler boosted their target price on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $307.00.

Get Our Latest Stock Report on TEAM

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 1,659 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total value of $407,798.79. Following the sale, the president now owns 213,511 shares in the company, valued at $52,483,138.91. This represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $219.07, for a total value of $1,741,168.36. Following the transaction, the director now owns 309,972 shares of the company’s stock, valued at approximately $67,905,566.04. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 257,156 shares of company stock valued at $65,313,573 over the last 90 days. Insiders own 38.55% of the company’s stock.

Atlassian Trading Up 14.9 %

Shares of NASDAQ:TEAM opened at $306.78 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $324.37. The stock has a market cap of $79.89 billion, a price-to-earnings ratio of -201.83 and a beta of 0.83. The business has a 50-day moving average price of $260.51 and a 200-day moving average price of $208.24.

Atlassian (NASDAQ:TEAMGet Free Report) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. Equities analysts predict that Atlassian Co. will post -0.55 EPS for the current year.

Atlassian 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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