Voya Investment Management LLC Grows Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Voya Investment Management LLC raised its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 17,941.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,172,854 shares of the technology company's stock after acquiring an additional 2,160,810 shares during the quarter. Atlassian makes up about 0.5% of Voya Investment Management LLC's holdings, making the stock its 28th biggest holding. Voya Investment Management LLC owned about 0.83% of Atlassian worth $528,693,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new position in Atlassian in the fourth quarter valued at approximately $27,000. Summit Securities Group LLC acquired a new position in Atlassian in the fourth quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Atlassian in the 4th quarter valued at about $39,000. Avion Wealth lifted its stake in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after buying an additional 157 shares during the last quarter. Finally, Assetmark Inc. raised its position in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after purchasing an additional 41 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TEAM shares. BMO Capital Markets dropped their price objective on shares of Atlassian from $360.00 to $295.00 and set an "outperform" rating on the stock in a research note on Thursday, April 10th. UBS Group reduced their price objective on Atlassian from $330.00 to $230.00 and set a "neutral" rating for the company in a research note on Tuesday, April 1st. Citigroup lifted their target price on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Robert W. Baird upgraded Atlassian from a "neutral" rating to an "outperform" rating and cut their price target for the stock from $320.00 to $255.00 in a research note on Monday, April 14th. Finally, StockNews.com lowered shares of Atlassian from a "buy" rating to a "hold" rating 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 issued a strong buy rating to the stock. According to MarketBeat.com, Atlassian has a consensus rating of "Moderate Buy" and a consensus price target of $301.90.

Atlassian Price Performance

Atlassian stock traded down $1.20 during midday trading on Tuesday, reaching $228.63. 420,065 shares of the company were exchanged, compared to its average volume of 2,041,547. The firm's 50-day simple moving average is $227.77 and its 200-day simple moving average is $244.92. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The company has a market capitalization of $59.90 billion, a price-to-earnings ratio of -170.45 and a beta of 1.07. 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 (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data 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 net margin of 7.22% and a negative return on equity of 17.37%. On average, analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 568 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.08, for a total transaction of $177,261.44. Following the transaction, the chief accounting officer now owns 52,142 shares of the company's stock, valued at $16,272,475.36. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $229.11, for a total transaction of $1,820,966.28. Following the sale, the director now directly owns 230,492 shares of the company's stock, valued at $52,808,022.12. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 261,513 shares of company stock valued at $65,866,506 over the last quarter. Company insiders own 38.55% of the company's stock.

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.