PNC Financial Services Group Inc. Has $6.01 Million Position in Atlassian Co. (NASDAQ:TEAM)

PNC Financial Services Group Inc. reduced its position in shares of Atlassian Co. (NASDAQ:TEAM) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,685 shares of the technology company’s stock after selling 268 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Atlassian were worth $6,008,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Avion Wealth grew its holdings in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after acquiring an additional 157 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Atlassian by 30.6% during 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. Mainstream Capital Management LLC purchased a new position in shares of Atlassian during the 4th quarter valued at $49,000. True Wealth Design LLC grew its holdings in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new position in shares of Atlassian during the 4th quarter valued at $56,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Up 1.0 %

Shares of TEAM opened at $226.44 on Thursday. The company has a 50-day simple moving average of $274.77 and a 200-day simple moving average of $233.52. The firm has a market capitalization of $59.33 billion, a P/E ratio of -168.98 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on TEAM. Barclays boosted their price target on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Citigroup upped their price objective on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Mizuho upped their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Piper Sandler upped their price objective on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Oppenheimer upped their price objective on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $319.71.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the transaction, the president now owns 211,991 shares of the company’s stock, valued at $54,006,827.16. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $218.05, for a total transaction of $1,733,061.40. Following the completion of the transaction, the director now directly owns 119,220 shares of the company’s stock, valued at $25,995,921. This trade represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 264,553 shares of company stock valued at $72,358,556 over the last quarter. Corporate insiders own 38.55% of the company’s stock.

Atlassian 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.