BI Asset Management Fondsmaeglerselskab A S Makes New Investment in Atlassian Co. (NASDAQ:TEAM)

BI Asset Management Fondsmaeglerselskab A S bought a new stake in Atlassian Co. (NASDAQ:TEAM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,108 shares of the technology company's stock, valued at approximately $1,730,000.

Other large investors also recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in Atlassian in the third quarter valued at $606,000. Fulton Bank N.A. acquired a new stake in Atlassian in the fourth quarter valued at $447,000. Allworth Financial LP grew its holdings in Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after purchasing an additional 47 shares during the last quarter. Nordea Investment Management AB grew its holdings in Atlassian by 20.1% in the fourth quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company's stock valued at $7,458,000 after purchasing an additional 5,088 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Atlassian by 61.4% in the third quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company's stock valued at $1,710,000 after purchasing an additional 4,099 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on TEAM shares. Jefferies Financial Group reduced their price objective on Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. StockNews.com downgraded Atlassian from a "buy" rating to a "hold" rating in a research report on Monday, March 31st. BMO Capital Markets reduced their target price on Atlassian from $360.00 to $295.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. The Goldman Sachs Group increased their target price on Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Finally, Truist Financial reduced their target price on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and a consensus target price of $301.90.

Insider Activity at Atlassian

In related news, CAO Gene Liu sold 779 shares of the company's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the sale, the chief accounting officer now directly owns 52,710 shares of the company's stock, valued at $16,867,727.10. This represents a 1.46 % 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, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $270.63, for a total transaction of $2,150,967.24. Following the completion of the sale, the director now directly owns 333,816 shares in the company, valued at $90,340,624.08. This represents a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 261,513 shares of company stock valued at $66,183,631 over the last ninety days. Corporate insiders own 38.55% of the company's stock.

Atlassian Stock Up 1.6 %

Shares of TEAM stock traded up $3.60 during trading hours on Friday, reaching $228.68. The company had a trading volume of 2,545,073 shares, compared to its average volume of 2,049,232. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a market capitalization of $59.91 billion, a P/E ratio of -170.66 and a beta of 1.07. The stock's fifty day simple moving average is $229.25 and its 200 day simple moving average is $244.62.

Atlassian (NASDAQ:TEAM - Get Free Report) last released 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%. As a group, sell-side analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

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.