Livforsakringsbolaget Skandia Omsesidigt Acquires 271 Shares of Atlassian Co. (NASDAQ:TEAM)

Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 271.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 371 shares of the technology company’s stock after buying an additional 271 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Atlassian were worth $88,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of TEAM. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Atlassian by 12.4% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock worth $14,763,000 after purchasing an additional 8,073 shares during the period. Arkadios Wealth Advisors acquired a new position in shares of Atlassian during the fourth quarter worth approximately $202,000. American Century Companies Inc. raised its position in shares of Atlassian by 58.7% during the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock worth $86,672,000 after purchasing an additional 159,102 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Atlassian during the fourth quarter worth approximately $13,805,000. Finally, Royal Bank of Canada raised its position in shares of Atlassian by 17.3% during the third quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock worth $76,862,000 after purchasing an additional 56,149 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of analyst reports. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Citigroup lowered their price target on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, April 12th. UBS Group lowered their price target on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. KeyCorp began coverage on Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating for the company. Finally, Mizuho decreased their target price on Atlassian from $265.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, April 15th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $224.25.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $247.60, for a total value of $2,040,471.60. Following the transaction, the chief executive officer now directly owns 387,327 shares of the company’s stock, valued at approximately $95,902,165.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $247.60, for a total transaction of $2,040,471.60. Following the transaction, the chief executive officer now directly owns 387,327 shares of the company’s stock, valued at $95,902,165.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Gene Liu sold 582 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $215.00, for a total value of $125,130.00. Following the transaction, the chief accounting officer now directly owns 45,865 shares in the company, valued at $9,860,975. The disclosure for this sale can be found here. Insiders have sold 298,930 shares of company stock valued at $62,707,908 in the last ninety days. Company insiders own 40.48% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $191.55 on Friday. The business’s 50-day moving average price is $201.83 and its two-hundred day moving average price is $206.53. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69. The stock has a market cap of $49.69 billion, a P/E ratio of -128.56 and a beta of 0.63. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. As a group, equities analysts predict that Atlassian Co. will post -0.4 EPS 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.