Atlassian Co. (NASDAQ:TEAM) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its stake in Atlassian Co. (NASDAQ:TEAM) by 32.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,873 shares of the technology company’s stock after selling 22,679 shares during the period. Handelsbanken Fonder AB’s holdings in Atlassian were worth $11,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. increased its stake in shares of Atlassian by 760.5% during the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after buying an additional 617,566 shares during the period. Two Sigma Advisers LP grew its holdings in Atlassian by 122.0% during the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after acquiring an additional 551,500 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Atlassian in the 3rd quarter valued at approximately $57,149,000. Parnassus Investments LLC raised its holdings in shares of Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after purchasing an additional 245,286 shares in the last quarter. Finally, PointState Capital LP purchased a new stake in shares of Atlassian during the 3rd quarter worth $30,566,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Trading Down 4.2 %

Shares of TEAM stock opened at $285.99 on Friday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. 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 business’s 50 day moving average is $272.98 and its two-hundred day moving average is $223.27. The company has a market capitalization of $74.93 billion, a P/E ratio of -213.42 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) 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%. Equities analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian 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 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, Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $264.20, for a total value of $2,099,861.60. Following the completion of the transaction, the director now owns 190,752 shares of the company’s stock, valued at $50,396,678.40. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 283,449 shares of company stock worth $77,580,151 over the last ninety days. 38.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several recent analyst reports. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a report on Friday. Oppenheimer raised their target price on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Mizuho boosted their target price on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Macquarie increased their price target on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Piper Sandler boosted their price objective on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $319.71.

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.