Mn Services Vermogensbeheer B.V. Decreases Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Mn Services Vermogensbeheer B.V. lessened its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 7.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,100 shares of the technology company's stock after selling 4,400 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Atlassian were worth $11,905,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after acquiring an additional 1,806,042 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Atlassian during the 4th quarter valued at $687,486,000. Invesco Ltd. increased its holdings in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after purchasing an additional 1,777,179 shares during the period. Geode Capital Management LLC raised its position in shares of Atlassian by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock worth $528,851,000 after buying an additional 27,899 shares in the last quarter. Finally, Voya Investment Management LLC boosted its stake in Atlassian by 17,941.0% during the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after buying an additional 2,160,810 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 121 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $214.88, for a total value of $26,000.48. Following the transaction, the chief accounting officer now directly owns 51,360 shares in the company, valued at approximately $11,036,236.80. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $216.90, for a total transaction of $1,723,921.20. Following the completion of the transaction, the chief executive officer now owns 71,532 shares of the company's stock, valued at approximately $15,515,290.80. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 351,759 shares of company stock worth $74,833,479 over the last three months. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Up 1.8%

TEAM traded up $3.50 on Monday, hitting $200.32. The company had a trading volume of 1,865,642 shares, compared to its average volume of 2,122,100. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The stock has a fifty day simple moving average of $210.71 and a 200-day simple moving average of $242.64. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $52.59 billion, a P/E ratio of -149.49 and a beta of 0.96.

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 for the quarter, beating the consensus estimate of $0.93 by $0.04. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The firm's revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. As a group, equities analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TEAM shares. Jefferies Financial Group lowered their price target on Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Mizuho dropped their target price on shares of Atlassian from $325.00 to $290.00 and set an "outperform" rating for the company in a research report on Thursday. Raymond James reissued an "outperform" rating and issued a $300.00 price target (down previously from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Morgan Stanley dropped their price objective on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Truist Financial lowered their price target 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 research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $282.19.

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.