Atlassian Co. (NASDAQ:TEAM) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS raised its position in Atlassian Co. (NASDAQ:TEAM) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,793 shares of the technology company’s stock after acquiring an additional 1,746 shares during the quarter. DnB Asset Management AS’s holdings in Atlassian were worth $6,764,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new stake in Atlassian during the 4th quarter valued at $27,000. Avion Wealth grew its stake in shares of Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after acquiring an additional 157 shares in the last quarter. Assetmark Inc. increased its position in shares of Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after acquiring an additional 41 shares during the last quarter. Mainstream Capital Management LLC acquired a new position in shares of Atlassian in the fourth quarter worth about $49,000. Finally, True Wealth Design LLC boosted its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $217.99 on Monday. The firm’s 50 day moving average is $269.28 and its two-hundred day moving average is $239.11. The firm has a market capitalization of $57.11 billion, a P/E ratio of -162.68 and a beta of 0.91. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) 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%. Analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Activity at Atlassian

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction on Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the transaction, the chief executive officer now directly owns 429,192 shares in the company, valued at approximately $104,529,711.60. This trade represents a 3.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Gene Liu sold 568 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $312.08, for a total value of $177,261.44. Following the completion of the sale, the chief accounting officer now owns 52,142 shares of the company’s stock, valued at approximately $16,272,475.36. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,085 shares of company stock worth $68,681,246 over the last ninety days. 38.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TEAM. Canaccord Genuity Group upped their target price on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Morgan Stanley upped their price target on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup boosted their target price on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Macquarie increased their price target on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Stephens initiated coverage on Atlassian in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $255.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $316.77.

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.