Forsta AP Fonden Sells 900 Shares of Atlassian Co. (NASDAQ:TEAM)

Forsta AP Fonden decreased its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,600 shares of the technology company’s stock after selling 900 shares during the quarter. Forsta AP Fonden’s holdings in Atlassian were worth $8,178,000 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 the stock. GAMMA Investing LLC raised its stake in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares during the period. True Wealth Design LLC increased its position in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of Atlassian in the third quarter worth about $48,000. Quarry LP boosted its position in shares of Atlassian by 143.8% in the second quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after acquiring an additional 220 shares during the period. Finally, Brown Brothers Harriman & Co. grew its stake in Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after acquiring an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TEAM shares. Wells Fargo & Company increased their target price on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Robert W. Baird increased their price objective on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Oppenheimer boosted their target price on Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Mizuho raised their price target on Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Cantor Fitzgerald initiated coverage on Atlassian in a report on Friday, January 17th. They set a “neutral” rating and a $264.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.19.

Atlassian Trading Down 1.6 %

Shares of TEAM opened at $266.95 on Friday. The stock has a market capitalization of $69.52 billion, a P/E ratio of -175.62 and a beta of 0.83. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a fifty day simple moving average of $259.32 and a two-hundred day simple moving average of $206.76.

Atlassian (NASDAQ:TEAM) last posted 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 return on equity of 23.35% and a negative net margin of 8.59%. On average, research analysts anticipate that Atlassian Co. will post -0.55 EPS for the current year.

Insider Activity

In other news, President Anutthara Bharadwaj sold 1,659 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total value of $407,798.79. Following the completion of the transaction, the president now owns 213,511 shares of the company’s stock, valued at approximately $52,483,138.91. This represents a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $278.79, for a total value of $2,215,822.92. Following the completion of the sale, the chief executive officer now directly owns 135,116 shares in the company, valued at approximately $37,668,989.64. The trade was a 5.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 257,156 shares of company stock valued at $65,313,573. Company insiders own 38.55% of the company’s stock.

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.