Ilmarinen Mutual Pension Insurance Co Purchases 10,000 Shares of Atlassian Co. (NASDAQ:TEAM)

Ilmarinen Mutual Pension Insurance Co increased its holdings in Atlassian Co. (NASDAQ:TEAM) by 20.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,000 shares of the technology company’s stock after buying an additional 10,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Atlassian were worth $14,603,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp purchased a new position in shares of Atlassian during the 4th quarter worth $27,000. Summit Securities Group LLC bought a new stake in Atlassian during the fourth quarter valued at about $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in Atlassian in the fourth quarter worth about $39,000. Avion Wealth raised its stake 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 during the period. Finally, Assetmark Inc. lifted 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. 94.45% of the stock is currently owned by institutional investors.

Atlassian Stock Down 5.4 %

Shares of TEAM opened at $187.67 on Friday. The firm has a fifty day moving average price of $264.05 and a 200-day moving average price of $239.57. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $49.17 billion, a P/E ratio of -140.05 and a beta of 1.07. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM) last released 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 net margin of 7.22% and a negative return on equity of 17.37%. Equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on TEAM. Macquarie raised their target price on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. UBS Group cut their price target on Atlassian from $330.00 to $230.00 and set a “neutral” rating for the company in a research note on Tuesday. Cantor Fitzgerald upgraded Atlassian from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $304.00 to $272.00 in a research report on Wednesday. Finally, Citigroup lifted their target price on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and an average target price of $308.73.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were 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. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $253.01, for a total transaction of $2,010,923.48. Following the transaction, the director now owns 389,452 shares in the company, valued at approximately $98,535,250.52. The trade was a 2.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 270,981 shares of company stock worth $71,914,254. 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.