KBC Group NV Sells 30,950 Shares of Atlassian Co. (NASDAQ:TEAM)

KBC Group NV reduced its stake in Atlassian Co. (NASDAQ:TEAM - Free Report) by 8.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 318,581 shares of the technology company's stock after selling 30,950 shares during the quarter. KBC Group NV owned about 0.12% of Atlassian worth $50,594,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Dragoneer Investment Group LLC acquired a new stake in shares of Atlassian in the second quarter valued at approximately $469,803,000. Price T Rowe Associates Inc. MD raised its position in shares of Atlassian by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company's stock worth $2,173,847,000 after acquiring an additional 904,138 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in Atlassian in the second quarter valued at $91,072,000. Quadrature Capital Ltd acquired a new stake in Atlassian in the 1st quarter valued at $55,307,000. Finally, Swedbank AB bought a new stake in Atlassian during the first quarter worth $50,923,000. Institutional investors own 93.03% of the company's stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of research reports. Scotiabank boosted their price objective on shares of Atlassian from $175.00 to $250.00 and gave the stock a "sector perform" rating in a report on Friday, November 1st. KeyCorp upgraded Atlassian from a "sector weight" rating to an "overweight" rating and set a $260.00 target price for the company in a research note on Friday, November 1st. Truist Financial lifted their target price on shares of Atlassian from $160.00 to $200.00 and gave the company a "hold" rating in a report on Friday, November 1st. Piper Sandler upped their target price on shares of Atlassian from $225.00 to $265.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Finally, Canaccord Genuity Group boosted their price objective on shares of Atlassian from $225.00 to $255.00 and gave the company a "buy" rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Atlassian currently has a consensus rating of "Moderate Buy" and a consensus price target of $244.21.

Atlassian Stock Performance

Shares of NASDAQ TEAM traded down $9.95 during midday trading on Friday, reaching $240.04. 2,278,983 shares of the company were exchanged, compared to its average volume of 1,864,679. The stock has a market cap of $62.51 billion, a P/E ratio of -157.92 and a beta of 0.71. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a fifty day simple moving average of $186.37 and a 200 day simple moving average of $174.14. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm's revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.07) earnings per share. On average, research analysts forecast that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

Insider Activity

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $244.84, for a total transaction of $1,945,988.32. Following the transaction, the director now directly owns 270,232 shares in the company, valued at $66,163,602.88. This represents a 2.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Anutthara Bharadwaj sold 760 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the transaction, the president now owns 143,966 shares in the company, valued at approximately $23,482,294.26. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,248 shares of company stock valued at $45,553,294 in the last 90 days. 38.55% of the stock is currently owned by 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.