Forsta AP Fonden Sells 900 Shares of Atlassian Co. (NASDAQ:TEAM)

Forsta AP Fonden decreased its position in Atlassian Co. (NASDAQ:TEAM) by 2.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 33,600 shares of the technology company’s stock after selling 900 shares during the quarter. Forsta AP Fonden’s holdings in Atlassian were worth $8,178,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TEAM. Virtu Financial LLC purchased a new stake in shares of Atlassian during the third quarter valued at approximately $606,000. Sequoia Financial Advisors LLC boosted its stake in Atlassian by 37.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares during the last quarter. Fulton Bank N.A. bought a new stake in shares of Atlassian in the 4th quarter worth $447,000. Paloma Partners Management Co bought a new position in shares of Atlassian during the third quarter valued at $1,588,000. Finally, Impax Asset Management Group plc boosted its position in shares of Atlassian by 590.6% during the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after buying an additional 31,986 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TEAM has been the subject of a number of recent analyst reports. Truist Financial raised Atlassian from a “hold” rating to a “buy” rating and boosted their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, January 7th. Mizuho increased their price objective on shares of Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Cantor Fitzgerald started coverage on shares of Atlassian in a research report on Friday, January 17th. They issued a “neutral” rating and a $264.00 target price for the company. Macquarie assumed coverage on Atlassian in a report on Thursday, December 12th. They set a “neutral” rating and a $290.00 price target on the stock. Finally, Raymond James lifted their price objective on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $273.19.

Atlassian Trading Down 1.6 %

Shares of Atlassian stock opened at $266.95 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The company has a fifty day moving average of $259.32 and a 200 day moving average of $206.76. The company has a market capitalization of $69.52 billion, a P/E ratio of -175.62 and a beta of 0.83. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97.

Atlassian (NASDAQ:TEAM) last released its earnings results 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 return on equity of 23.35% and a negative net margin of 8.59%. On average, sell-side analysts anticipate that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 15,896 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the transaction, the chief executive officer now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 1,659 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total transaction of $407,798.79. Following the completion of the sale, the president now owns 213,511 shares in the company, valued at approximately $52,483,138.91. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 257,156 shares of company stock worth $65,313,573 over the last quarter. Insiders own 38.55% of the company’s stock.

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.