Atlassian Co. (NASDAQ:TEAM) Shares Sold by National Pension Service

National Pension Service lowered its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 17.2% in the fourth quarter, HoldingsChannel reports. The firm owned 245,066 shares of the technology company’s stock after selling 51,000 shares during the quarter. National Pension Service’s holdings in Atlassian were worth $59,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its position in Atlassian by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after purchasing an additional 78,454 shares during the period. State Street Corp boosted its position in Atlassian by 0.3% during the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after purchasing an additional 8,957 shares during the period. JPMorgan Chase & Co. boosted its position in Atlassian by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after purchasing an additional 131,621 shares during the period. FMR LLC boosted its position in Atlassian by 7.4% during the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after acquiring an additional 150,237 shares during the period. Finally, Geode Capital Management LLC boosted its position in Atlassian by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock worth $340,453,000 after acquiring an additional 57,911 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Down 3.6 %

Shares of Atlassian stock opened at $278.48 on Friday. The stock has a 50-day moving average price of $274.16 and a 200 day moving average price of $226.35. The company has a market cap of $72.96 billion, a P/E ratio of -207.82 and a beta of 0.87. 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 1 year low of $135.29 and a 1 year high of $326.00.

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 return on equity of 17.37% and a negative net margin of 7.22%. As a group, analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $265.96, for a total transaction of $2,113,850.08. Following the transaction, the director now owns 158,960 shares of the company’s stock, valued at approximately $42,277,001.60. This trade represents a 4.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Gene Liu sold 568 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the sale, the chief accounting officer now directly owns 52,142 shares of the company’s stock, valued at $16,272,475.36. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 275,501 shares of company stock valued at $75,853,687. Corporate insiders own 38.55% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the subject of a number of analyst reports. Macquarie boosted their price target on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Barclays upped their price objective on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Jefferies Financial Group upped their price objective on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company upped their price objective on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Eight investment 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, the stock presently has an average rating of “Moderate Buy” and an average target price 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.