Korea Investment CORP Has $41.57 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Korea Investment CORP raised its position in shares of Atlassian Co. (NASDAQ:TEAM) by 47.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 170,788 shares of the technology company’s stock after acquiring an additional 55,172 shares during the period. Korea Investment CORP owned approximately 0.07% of Atlassian worth $41,566,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its position in Atlassian by 168.1% during the third quarter. Thrivent Financial for Lutherans now owns 10,270 shares of the technology company’s stock worth $1,631,000 after buying an additional 6,440 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Atlassian by 169.0% in the third quarter. Cerity Partners LLC now owns 18,017 shares of the technology company’s stock worth $2,861,000 after acquiring an additional 11,320 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 82 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Atlassian by 17.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 30,353 shares of the technology company’s stock valued at $4,824,000 after acquiring an additional 4,479 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after purchasing an additional 150,237 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TEAM shares. Piper Sandler increased their price target on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group boosted their price target on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Wells Fargo & Company lifted their price objective on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley increased their target price on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, UBS Group lifted their price target on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $316.77.

Atlassian Stock Performance

Atlassian stock opened at $222.64 on Friday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. 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 $58.33 billion, a PE ratio of -166.15 and a beta of 0.91. The firm’s 50 day simple moving average is $269.96 and its 200 day simple moving average is $237.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $246.97, for a total transaction of $1,962,917.56. Following the transaction, the chief executive officer now directly owns 7,948 shares of the company’s stock, valued at approximately $1,962,917.56. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Gene Liu sold 779 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the sale, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 263,033 shares of company stock valued at $70,644,164. 38.55% of the stock is owned by corporate insiders.

Atlassian Company 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.