APG Asset Management US Inc. Has $1.23 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

APG Asset Management US Inc. decreased its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 51.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,038 shares of the technology company's stock after selling 5,286 shares during the period. APG Asset Management US Inc.'s holdings in Atlassian were worth $1,226,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Atlassian during the fourth quarter valued at $687,486,000. Invesco Ltd. raised its position in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock valued at $595,171,000 after buying an additional 1,777,179 shares during the last quarter. Geode Capital Management LLC grew its stake in Atlassian by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company's stock worth $528,851,000 after acquiring an additional 27,899 shares during the period. Finally, Norges Bank purchased a new stake in shares of Atlassian during the 4th quarter valued at $296,697,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Up 0.9 %

TEAM stock traded up $1.82 during midday trading on Monday, hitting $200.19. The company's stock had a trading volume of 1,063,208 shares, compared to its average volume of 2,037,996. 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 company's fifty day moving average price is $251.13 and its 200 day moving average price is $241.80. The stock has a market capitalization of $52.45 billion, a P/E ratio of -149.39 and a beta of 1.07. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) 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 research analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $195.56, for a total transaction of $1,554,310.88. Following the transaction, the chief executive officer now owns 317,920 shares in the company, valued at $62,172,435.20. The trade was a 2.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm'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 owns 210,471 shares of the company's stock, valued at approximately $54,690,889.35. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,085 shares of company stock valued at $66,725,482. 38.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TEAM shares. Scotiabank raised their target price on Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a report on Friday, January 31st. Truist Financial dropped their price objective on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Canaccord Genuity Group boosted their target price on shares of Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Morgan Stanley increased their target price on Atlassian from $315.00 to $370.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, Mizuho raised their price target on shares of Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $300.00.

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.