Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Holdings in Atlassian Co. (NASDAQ:TEAM)

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its holdings in Atlassian Co. (NASDAQ:TEAM) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,900 shares of the technology company’s stock after selling 3,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Atlassian were worth $9,224,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC increased its stake in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares during the period. Avion Wealth increased its stake in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after purchasing an additional 157 shares during the period. Reston Wealth Management LLC purchased a new stake in Atlassian in the third quarter worth $48,000. Kestra Investment Management LLC purchased a new stake in Atlassian in the fourth quarter worth $56,000. Finally, Brown Brothers Harriman & Co. increased its stake in Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after purchasing an additional 82 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Down 4.2 %

Shares of TEAM stock opened at $285.99 on Monday. The stock has a 50 day moving average of $272.98 and a 200 day moving average of $223.88. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market cap of $74.93 billion, a P/E ratio of -213.42 and a beta of 0.87. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TEAM shares. Citigroup raised their price target on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Wells Fargo & Company raised their price target on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group raised their price objective on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and set a $330.00 price objective (up previously from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Finally, Robert W. Baird raised their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $319.71.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the completion of the sale, the chief executive officer now directly owns 429,192 shares in the company, valued at $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Anutthara Bharadwaj sold 1,723 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total value of $526,962.32. Following the completion of the sale, the president now owns 199,934 shares of the company’s stock, valued at $61,147,814.56. This trade represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,501 shares of company stock worth $75,480,290 over the last three months. 38.55% of the stock is currently owned by corporate insiders.

Atlassian 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.