Mn Services Vermogensbeheer B.V. Increases Stock Position in Atlassian Co. (NASDAQ:TEAM)

Mn Services Vermogensbeheer B.V. grew its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 1.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,500 shares of the technology company’s stock after buying an additional 1,000 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Atlassian were worth $14,724,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Creative Planning lifted its holdings in shares of Atlassian by 32.3% during the third quarter. Creative Planning now owns 7,947 shares of the technology company’s stock valued at $1,262,000 after purchasing an additional 1,941 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Atlassian by 96.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,730 shares of the technology company’s stock valued at $1,228,000 after buying an additional 3,797 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in Atlassian by 145.7% in the third quarter. J.W. Cole Advisors Inc. now owns 3,899 shares of the technology company’s stock worth $619,000 after acquiring an additional 2,312 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Atlassian in the third quarter worth $236,000. Finally, abrdn plc grew its stake in shares of Atlassian by 19.9% in the third quarter. abrdn plc now owns 54,989 shares of the technology company’s stock worth $8,733,000 after acquiring an additional 9,137 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Trading Down 3.6 %

Shares of Atlassian stock opened at $278.48 on Friday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company’s fifty day simple moving average is $274.16 and its 200-day simple moving average is $226.35. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $72.96 billion, a PE ratio of -207.82 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last released its quarterly 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 net margin of 7.22% and a negative return on equity of 17.37%. As a group, equities analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Heather Mirjahangir Fernandez sold 3,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $275.00, for a total transaction of $825,000.00. Following the completion of the sale, the director now owns 5,610 shares in the company, valued at approximately $1,542,750. This trade represents a 34.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $289.77, for a total value of $2,303,091.96. Following the completion of the transaction, the director now directly owns 182,804 shares in the company, valued at approximately $52,971,115.08. This represents a 4.17 % 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. 38.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Morgan Stanley upped 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. Macquarie increased their price target on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Mizuho boosted their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and increased their target price for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus 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.