Atlassian Corporation PLC (NASDAQ:TEAM) Shares Sold by Achmea Investment Management B.V.

Achmea Investment Management B.V. decreased its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 10.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,264 shares of the technology company's stock after selling 3,408 shares during the quarter. Achmea Investment Management B.V.'s holdings in Atlassian were worth $5,998,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. raised its stake in shares of Atlassian by 7.1% in the fourth quarter. Principal Financial Group Inc. now owns 11,531 shares of the technology company's stock valued at $2,806,000 after acquiring an additional 761 shares during the period. Amalgamated Bank raised its stake in shares of Atlassian by 2.8% in the fourth quarter. Amalgamated Bank now owns 10,710 shares of the technology company's stock valued at $2,607,000 after acquiring an additional 296 shares during the period. K.J. Harrison & Partners Inc purchased a new stake in shares of Atlassian in the fourth quarter valued at $485,000. Mn Services Vermogensbeheer B.V. raised its stake in shares of Atlassian by 1.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 60,500 shares of the technology company's stock valued at $14,724,000 after acquiring an additional 1,000 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Atlassian by 23.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,192 shares of the technology company's stock valued at $533,000 after acquiring an additional 421 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Activity at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Monday, April 7th. The shares were sold at an average price of $185.61, for a total value of $1,475,228.28. Following the sale, the director now owns 333,816 shares of the company's stock, valued at approximately $61,959,587.76. This trade represents a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $199.71, for a total transaction of $1,530,777.15. Following the completion of the sale, the chief executive officer now directly owns 22,995 shares in the company, valued at $4,592,331.45. This represents a 25.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 388,669 shares of company stock valued at $80,949,405. 38.55% of the stock is owned by company insiders.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded up $3.82 during trading on Friday, hitting $202.32. 2,463,283 shares of the stock traded hands, compared to its average volume of 2,148,495. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The company has a market cap of $53.11 billion, a price-to-earnings ratio of -121.88 and a beta of 0.96. The company has a fifty day moving average price of $209.79 and a two-hundred day moving average price of $237.61. Atlassian Corporation PLC has a 52-week low of $135.29 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter last year, the company earned $0.89 EPS. The firm's revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, equities analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

TEAM has been the topic of several recent analyst reports. Stephens reduced their target price on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Macquarie lowered their price target on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. BMO Capital Markets lowered their price target on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Finally, Truist Financial lowered their price target on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Four research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $282.19.

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.