Korea Investment CORP Buys 55,172 Shares of Atlassian Co. (NASDAQ:TEAM)

Korea Investment CORP increased its stake in Atlassian Co. (NASDAQ:TEAM) by 47.7% in the fourth quarter, HoldingsChannel reports. The fund owned 170,788 shares of the technology company’s stock after purchasing an additional 55,172 shares during the period. Korea Investment CORP’s holdings in Atlassian were worth $41,566,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TEAM. State Street Corp lifted its position in Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after purchasing an additional 8,957 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after buying an additional 131,621 shares during the period. FMR LLC increased its stake in shares of Atlassian by 7.4% in the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after buying an additional 150,237 shares during the period. Geode Capital Management LLC raised its holdings in Atlassian by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock valued at $340,453,000 after buying an additional 57,911 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Atlassian by 5.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,210,351 shares of the technology company’s stock valued at $192,216,000 after buying an additional 58,536 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $218.05, for a total value of $1,733,061.40. Following the transaction, the director now directly owns 119,220 shares in the company, valued at $25,995,921. This trade represents a 6.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $243.55, for a total value of $3,871,470.80. Following the sale, the chief executive officer now owns 429,192 shares of the company’s stock, valued at approximately $104,529,711.60. This trade represents a 3.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 263,033 shares of company stock worth $70,644,164. 38.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TEAM has been the subject of several recent analyst reports. Mizuho upped their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Cantor Fitzgerald upped their price target on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. UBS Group upped their target price on Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Morgan Stanley lifted their price target on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $316.77.

Atlassian Trading Down 3.1 %

NASDAQ:TEAM opened at $222.64 on Friday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The stock has a market cap of $58.33 billion, a price-to-earnings ratio of -166.15 and a beta of 0.91. The company’s 50 day moving average price is $269.96 and its 200-day moving average price is $237.69. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) 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%. On average, equities research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.