AIA Group Ltd Grows Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

AIA Group Ltd lifted its position in Atlassian Co. (NASDAQ:TEAM) by 3.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 10,399 shares of the technology company’s stock after purchasing an additional 339 shares during the quarter. AIA Group Ltd’s holdings in Atlassian were worth $2,531,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new stake in Atlassian in the fourth quarter worth $27,000. True Wealth Design LLC increased its holdings in shares of Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the period. Summit Securities Group LLC bought a new stake in shares of Atlassian in the 4th quarter valued at about $38,000. Avion Wealth boosted its holdings in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after acquiring an additional 157 shares during the period. Finally, Assetmark Inc. increased its stake in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on TEAM shares. The Goldman Sachs Group increased their price objective on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. KeyCorp raised their price target on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Jefferies Financial Group lowered their price objective on shares of Atlassian from $400.00 to $330.00 and set a “buy” rating for the company in a research note on Monday. UBS Group boosted their price target on Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Raymond James reiterated an “outperform” rating and issued a $330.00 price objective (up previously from $250.00) on shares of Atlassian in a report on Friday, January 31st. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $314.73.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $212.21 on Tuesday. The company has a market capitalization of $55.60 billion, a PE ratio of -158.36 and a beta of 0.91. The business has a fifty day moving average price of $268.47 and a 200-day moving average price of $239.44. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24.

Atlassian (NASDAQ:TEAM) last issued 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 17.37% and a negative net margin of 7.22%. As a group, equities analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Activity at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $242.27, for a total transaction of $1,925,561.96. Following the completion of the transaction, the chief executive officer now directly owns 476,880 shares of the company’s stock, valued at $115,533,717.60. The trade was a 1.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares in the company, valued at $54,690,889.35. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 263,033 shares of company stock valued at $70,403,022. 38.55% of the stock is owned by corporate insiders.

Atlassian Company 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.