Truist Financial Corp boosted its stake in Atlassian Co. (NASDAQ:TEAM – Free Report) by 49.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,624 shares of the technology company’s stock after purchasing an additional 33,573 shares during the quarter. Truist Financial Corp’s holdings in Atlassian were worth $17,395,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Hardman Johnston Global Advisors LLC bought a new stake in Atlassian in the 1st quarter worth approximately $129,166,000. Versor Investments LP bought a new stake in Atlassian in the first quarter worth $367,000. Illinois Municipal Retirement Fund raised its stake in Atlassian by 4.9% during the first quarter. Illinois Municipal Retirement Fund now owns 90,009 shares of the technology company’s stock valued at $15,407,000 after purchasing an additional 4,229 shares in the last quarter. Gilbert & Cook Inc. bought a new position in Atlassian during the first quarter valued at $273,000. Finally, Pitcairn Co. grew its stake in shares of Atlassian by 23.0% in the 1st quarter. Pitcairn Co. now owns 16,928 shares of the technology company’s stock worth $2,898,000 after buying an additional 3,165 shares in the last quarter. Institutional investors own 53.17% of the company’s stock.
Atlassian Stock Performance
Shares of Atlassian stock opened at $196.13 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.67. The stock’s fifty day moving average price is $175.73 and its 200-day moving average price is $165.39. The firm has a market cap of $50.41 billion, a P/E ratio of -103.77 and a beta of 0.75. Atlassian Co. has a 12 month low of $113.86 and a 12 month high of $300.29.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Report on TEAM
Insiders Place Their Bets
In related news, CEO Michael Cannon-Brookes sold 8,614 shares of Atlassian stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $134.21, for a total transaction of $1,156,084.94. Following the transaction, the chief executive officer now directly owns 277,920 shares of the company’s stock, valued at $37,299,643.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, President Anutthara Bharadwaj sold 4,699 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $142.53, for a total transaction of $669,748.47. Following the transaction, the president now owns 213,479 shares in the company, valued at $30,427,161.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 8,614 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $134.21, for a total transaction of $1,156,084.94. Following the sale, the chief executive officer now directly owns 277,920 shares in the company, valued at approximately $37,299,643.20. The disclosure for this sale can be found here. Insiders have sold a total of 335,730 shares of company stock worth $56,996,901 in the last three months. Corporate insiders own 43.11% of the company’s stock.
Atlassian Company Profile
Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.
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