Andra AP fonden Has $12.74 Million Holdings in Atlassian Co. (NASDAQ:TEAM)

Andra AP fonden raised its holdings in Atlassian Co. (NASDAQ:TEAM) by 13.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,000 shares of the technology company’s stock after buying an additional 8,500 shares during the period. Andra AP fonden’s holdings in Atlassian were worth $12,735,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. First Trust Direct Indexing L.P. lifted its holdings in Atlassian by 1.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after purchasing an additional 55 shares during the last quarter. Park National Corp OH boosted its holdings in shares of Atlassian by 4.0% during the 1st quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock worth $292,000 after buying an additional 58 shares during the period. Financial Advocates Investment Management grew its stake in Atlassian by 1.7% in the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after buying an additional 62 shares during the last quarter. STF Management LP raised its holdings in Atlassian by 2.6% in the 4th quarter. STF Management LP now owns 2,551 shares of the technology company’s stock valued at $607,000 after acquiring an additional 65 shares during the period. Finally, Ameritas Investment Partners Inc. raised its holdings in Atlassian by 1.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock valued at $890,000 after acquiring an additional 65 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Scotiabank decreased their target price on Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company lowered their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Mizuho reduced their target price on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Truist Financial lowered their price target on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Finally, BMO Capital Markets cut their price objective on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $217.69.

Atlassian Price Performance

Atlassian stock opened at $162.25 on Wednesday. The stock has a fifty day moving average of $165.24 and a 200-day moving average of $177.88. The stock has a market capitalization of $42.19 billion, a P/E ratio of -257.54 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company posted ($0.21) EPS. On average, sell-side analysts expect that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $163.82, for a total transaction of $1,302,041.36. Following the sale, the director now owns 119,220 shares of the company’s stock, valued at approximately $19,530,620.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $163.82, for a total value of $1,302,041.36. Following the completion of the transaction, the director now directly owns 119,220 shares in the company, valued at $19,530,620.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $175.00, for a total value of $133,000.00. Following the sale, the president now owns 152,534 shares in the company, valued at $26,693,450. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 248,107 shares of company stock valued at $41,434,043. 40.48% of the stock is currently owned by insiders.

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.