Principal Financial Group Inc. Has $2.81 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

Principal Financial Group Inc. boosted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 7.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,531 shares of the technology company’s stock after buying an additional 761 shares during the period. Principal Financial Group Inc.’s holdings in Atlassian were worth $2,806,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. grew its stake in shares of Atlassian by 0.9% in the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after buying an additional 78,454 shares in the last quarter. State Street Corp raised its stake in Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after acquiring an additional 8,957 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Atlassian by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after purchasing an additional 131,621 shares during the last quarter. FMR LLC grew its holdings in shares of Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after purchasing an additional 150,237 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Atlassian by 2.8% in the third quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock valued at $340,453,000 after acquiring an additional 57,911 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the transaction, the president now directly owns 211,991 shares in the company, valued at $54,006,827.16. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $269.35, for a total value of $2,140,793.80. Following the transaction, the director now owns 111,272 shares in the company, valued at $29,971,113.20. The trade was a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 272,501 shares of company stock valued at $75,129,229. Insiders own 38.55% of the company’s stock.

Atlassian Stock Down 0.2 %

TEAM stock opened at $273.62 on Wednesday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The business has a fifty day moving average price of $276.03 and a 200-day moving average price of $230.63. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $71.69 billion, a P/E ratio of -204.19 and a beta of 0.87.

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

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of research reports. KeyCorp upped their target price on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Cantor Fitzgerald increased their price objective on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Scotiabank raised their price target on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. William Blair restated an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Finally, Mizuho lifted their price objective on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $319.71.

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.