Handelsbanken Fonder AB Decreases Holdings in Atlassian Co. (NASDAQ:TEAM)

Handelsbanken Fonder AB reduced its position in Atlassian Co. (NASDAQ:TEAM) by 32.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 46,873 shares of the technology company’s stock after selling 22,679 shares during the period. Handelsbanken Fonder AB’s holdings in Atlassian were worth $11,408,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. raised its position in Atlassian by 0.9% during the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after acquiring an additional 78,454 shares during the last quarter. State Street Corp raised its position in shares of Atlassian by 0.3% during the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after purchasing an additional 8,957 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Atlassian by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after purchasing an additional 131,621 shares during the last quarter. FMR LLC lifted its stake in Atlassian by 7.4% in the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after buying an additional 150,237 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings 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 valued at $340,453,000 after buying an additional 57,911 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the sale, the president now directly owns 211,991 shares in the company, valued at approximately $54,006,827.16. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $236.89, for a total value of $1,882,801.72. Following the transaction, the chief executive officer now directly owns 421,244 shares in the company, valued at $99,788,491.16. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 283,449 shares of company stock valued at $77,580,151 over the last three months. 38.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TEAM. Scotiabank upped their price objective on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Barclays upped their target price on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Citigroup boosted their price objective on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. UBS Group raised their target price on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, William Blair reiterated an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Trading Down 4.2 %

NASDAQ TEAM opened at $285.99 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company’s 50 day moving average price is $272.98 and its 200 day moving average price is $223.27. The firm has a market capitalization of $74.93 billion, a price-to-earnings ratio of -213.42 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, sell-side analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

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.