Achmea Investment Management B.V. Reduces Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Achmea Investment Management B.V. lowered its holdings in Atlassian Co. (NASDAQ:TEAM - Free Report) by 32.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,672 shares of the technology company's stock after selling 15,263 shares during the quarter. Achmea Investment Management B.V.'s holdings in Atlassian were worth $7,708,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Assetmark Inc. raised its holdings in shares of Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after purchasing an additional 41 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after purchasing an additional 47 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company's stock valued at $71,000 after purchasing an additional 54 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Atlassian by 4.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company's stock valued at $357,000 after purchasing an additional 56 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in shares of Atlassian by 1.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company's stock valued at $963,000 after purchasing an additional 59 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

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Atlassian Stock Performance

Shares of TEAM stock traded down $1.53 during trading hours on Tuesday, hitting $219.45. The company's stock had a trading volume of 2,419,058 shares, compared to its average volume of 2,234,775. 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 company has a 50 day moving average of $272.77 and a 200 day moving average of $235.08. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The stock has a market cap of $57.50 billion, a PE ratio of -163.77 and a beta of 0.91.

Atlassian (NASDAQ:TEAM - Get Free Report) 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 net margin of 7.22% and a negative return on equity of 17.37%. On average, sell-side analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the sale, the president now directly owns 211,991 shares in the company, valued at $54,006,827.16. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $258.33, for a total transaction of $2,053,206.84. Following the completion of the sale, the director now owns 63,584 shares of the company's stock, valued at $16,425,654.72. This trade represents a 11.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 264,553 shares of company stock worth $71,956,546. Company insiders own 38.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TEAM. Raymond James restated an "outperform" rating and issued a $330.00 price target (up previously from $250.00) on shares of Atlassian in a report on Friday, January 31st. Scotiabank lifted their price objective on shares of Atlassian from $250.00 to $330.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. Jefferies Financial Group lifted their price objective on shares of Atlassian from $300.00 to $325.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. UBS Group lifted their price objective 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, Wells Fargo & Company lifted their price objective on shares of Atlassian from $350.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.