Livforsakringsbolaget Skandia Omsesidigt Purchases 271 Shares of Atlassian Co. (NASDAQ:TEAM)

Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Atlassian Co. (NASDAQ:TEAM) by 271.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 371 shares of the technology company’s stock after purchasing an additional 271 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Atlassian were worth $88,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TEAM. OFI Invest Asset Management purchased a new position in shares of Atlassian in the 3rd quarter valued at $26,000. Meeder Asset Management Inc. increased its holdings in shares of Atlassian by 151.5% in the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after acquiring an additional 147 shares during the period. Tyler Stone Wealth Management purchased a new position in Atlassian during the 2nd quarter worth $34,000. Quarry LP purchased a new stake in Atlassian during the 2nd quarter valued at about $44,000. Finally, Carolinas Wealth Consulting LLC grew its stake in Atlassian by 1,365.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 293 shares of the technology company’s stock valued at $50,000 after purchasing an additional 273 shares during the last quarter. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $192.21, for a total value of $1,584,002.61. Following the sale, the chief executive officer now owns 24,723 shares in the company, valued at $4,752,007.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $201.05, for a total transaction of $305,596.00. Following the completion of the sale, the president now directly owns 163,370 shares in the company, valued at $32,845,538.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $192.21, for a total transaction of $1,584,002.61. Following the completion of the transaction, the chief executive officer now directly owns 24,723 shares of the company’s stock, valued at approximately $4,752,007.83. The disclosure for this sale can be found here. Insiders have sold 298,930 shares of company stock valued at $62,707,908 over the last quarter. Insiders own 40.48% of the company’s stock.

Atlassian Stock Performance

Shares of Atlassian stock opened at $191.55 on Friday. The firm has a market cap of $49.69 billion, a PE ratio of -128.56 and a beta of 0.63. The firm’s 50-day simple moving average is $201.83 and its 200-day simple moving average is $206.53. 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 1 year low of $128.02 and a 1 year high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. Equities analysts forecast that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TEAM. The Goldman Sachs Group upped their price target on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. William Blair restated an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. KeyCorp began coverage on Atlassian in a research report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Finally, UBS Group decreased their price target on Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $224.25.

About Atlassian

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.