Nordea Investment Management AB Boosts Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Nordea Investment Management AB lifted its stake in Atlassian Co. (NASDAQ:TEAM) by 20.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,442 shares of the technology company’s stock after buying an additional 5,088 shares during the period. Nordea Investment Management AB’s holdings in Atlassian were worth $7,458,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. National Bank of Canada FI boosted its stake in shares of Atlassian by 21.6% during the second quarter. National Bank of Canada FI now owns 1,156 shares of the technology company’s stock valued at $206,000 after purchasing an additional 205 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Atlassian by 1.3% during the 2nd quarter. Victory Capital Management Inc. now owns 131,837 shares of the technology company’s stock worth $23,319,000 after acquiring an additional 1,662 shares during the period. Quest Partners LLC boosted its position in shares of Atlassian by 33.3% during the second quarter. Quest Partners LLC now owns 1,805 shares of the technology company’s stock valued at $319,000 after purchasing an additional 451 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in Atlassian by 14.2% during the second quarter. Daiwa Securities Group Inc. now owns 22,318 shares of the technology company’s stock valued at $3,948,000 after buying an additional 2,774 shares during the period. Finally, Achmea Investment Management B.V. lifted its position in Atlassian by 4.6% during the 2nd quarter. Achmea Investment Management B.V. now owns 26,640 shares of the technology company’s stock valued at $4,712,000 after acquiring an additional 1,162 shares during the period. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

In related news, CAO Gene Liu sold 1,024 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $230,860.80. Following the completion of the transaction, the chief accounting officer now directly owns 59,168 shares of the company’s stock, valued at approximately $13,339,425.60. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $193.70, for a total value of $1,539,527.60. Following the transaction, the chief executive officer now owns 429,192 shares of the company’s stock, valued at $83,134,490.40. This represents a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,480 shares of company stock valued at $62,377,979 over the last 90 days. 38.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TEAM shares. Robert W. Baird boosted their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Raymond James upped their price target on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Oppenheimer upped their target price on shares of Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday. UBS Group raised their price target on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Mizuho increased their target price on Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Nine research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $264.25.

Atlassian Trading Down 1.4 %

NASDAQ:TEAM opened at $244.49 on Friday. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97. The business has a fifty day moving average price of $252.85 and a 200-day moving average price of $198.51. The firm has a market capitalization of $63.67 billion, a price-to-earnings ratio of -160.85 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Sell-side analysts forecast that Atlassian Co. will post -0.54 EPS for the current 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.