Elo Mutual Pension Insurance Co Boosts Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Elo Mutual Pension Insurance Co raised its stake in Atlassian Co. (NASDAQ:TEAM) by 5.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,864 shares of the technology company’s stock after purchasing an additional 716 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Atlassian were worth $3,618,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Murphy & Mullick Capital Management Corp bought a new stake in Atlassian in the fourth quarter worth $27,000. Avion Wealth increased its holdings in shares of Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after buying an additional 157 shares during the last quarter. Assetmark Inc. raised its position in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after buying an additional 41 shares in the last quarter. Mainstream Capital Management LLC purchased a new stake in shares of Atlassian during the 4th quarter valued at about $49,000. Finally, True Wealth Design LLC lifted its holdings in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Trading Down 2.1 %

NASDAQ:TEAM opened at $217.99 on Friday. The firm has a 50-day simple moving average of $269.28 and a 200-day simple moving average of $238.07. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The firm has a market cap of $57.11 billion, a P/E ratio of -162.68 and a beta of 0.91. 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) last announced its earnings results 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 anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the transaction, the chief executive officer now directly owns 270,232 shares of the company’s stock, valued at approximately $87,098,475.92. This represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now directly owns 210,471 shares of the company’s stock, valued at $54,690,889.35. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,033 shares of company stock worth $70,644,164 over the last quarter. Insiders own 38.55% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of recent research reports. Cantor Fitzgerald upped their price objective on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Morgan Stanley increased their price target on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup lifted their price objective on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, The Goldman Sachs Group lifted their price target on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $316.77.

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.