Mn Services Vermogensbeheer B.V. Acquires 1,000 Shares of Atlassian Co. (NASDAQ:TEAM)

Mn Services Vermogensbeheer B.V. raised its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,500 shares of the technology company’s stock after acquiring an additional 1,000 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Atlassian were worth $14,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TEAM. True Wealth Design LLC lifted its holdings in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares in the last quarter. Avion Wealth lifted its holdings in shares of 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 buying an additional 157 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of Atlassian in the third quarter valued at approximately $48,000. Kestra Investment Management LLC purchased a new position in Atlassian during the fourth quarter valued at approximately $56,000. Finally, Brown Brothers Harriman & Co. increased its holdings in Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after acquiring an additional 82 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $278.48 on Friday. 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 Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm has a market cap of $72.96 billion, a PE ratio of -207.82 and a beta of 0.87. The business has a 50 day moving average price of $274.16 and a 200-day moving average price of $226.35.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Equities research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Piper Sandler boosted their price target on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Barclays boosted their target price on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Macquarie raised their price target on Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Scotiabank boosted their price objective on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $330.00 target price (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $319.71.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $289.77, for a total value of $2,303,091.96. Following the sale, the director now owns 182,804 shares in the company, valued at $52,971,115.08. The trade was a 4.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the completion of the transaction, the president now owns 211,991 shares of the company’s stock, valued at $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,501 shares of company stock valued at $75,853,687 over the last ninety days. 38.55% of the stock is owned by insiders.

Atlassian Company 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.