National Pension Service Increases Stake in Atlassian Co. (NASDAQ:TEAM)

National Pension Service increased its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 8.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 296,066 shares of the technology company's stock after acquiring an additional 22,883 shares during the quarter. National Pension Service owned about 0.11% of Atlassian worth $47,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sequoia Financial Advisors LLC increased its holdings in Atlassian by 12.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,540 shares of the technology company's stock worth $300,000 after acquiring an additional 176 shares during the period. Janney Montgomery Scott LLC boosted its stake in Atlassian by 6.5% during the first quarter. Janney Montgomery Scott LLC now owns 26,168 shares of the technology company's stock valued at $5,106,000 after buying an additional 1,593 shares during the period. Whittier Trust Co. grew its position in Atlassian by 15,200.0% during the first quarter. Whittier Trust Co. now owns 765 shares of the technology company's stock worth $149,000 after buying an additional 760 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Atlassian by 4.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,540 shares of the technology company's stock valued at $886,000 after acquiring an additional 179 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of Atlassian by 0.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 32,941 shares of the technology company's stock valued at $6,427,000 after acquiring an additional 294 shares during the last quarter. Institutional investors own 93.03% of the company's stock.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $141.23, for a total transaction of $1,122,496.04. Following the sale, the chief executive officer now directly owns 278,180 shares of the company's stock, valued at $39,287,361.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares in the company, valued at approximately $18,838,038.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $141.23, for a total value of $1,122,496.04. Following the transaction, the chief executive officer now directly owns 278,180 shares in the company, valued at approximately $39,287,361.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 245,217 shares of company stock valued at $43,789,203. Insiders own 38.55% of the company's stock.

Wall Street Analyst Weigh In

TEAM has been the subject of several research reports. Wells Fargo & Company upped their target price on shares of Atlassian from $250.00 to $300.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Baird R W downgraded Atlassian from a "strong-buy" rating to a "hold" rating in a report on Friday, August 2nd. KeyCorp upgraded Atlassian from a "sector weight" rating to an "overweight" rating and set a $260.00 price target on the stock in a research report on Friday, November 1st. Raymond James boosted their price objective on Atlassian from $200.00 to $250.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, UBS Group lifted their target price on shares of Atlassian from $180.00 to $205.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $243.16.

Atlassian Stock Up 3.7 %

Shares of TEAM stock traded up $8.27 during trading hours on Thursday, hitting $233.84. 2,277,783 shares of the company's stock traded hands, compared to its average volume of 1,843,025. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock's fifty day simple moving average is $176.79 and its two-hundred day simple moving average is $171.90. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The stock has a market cap of $60.81 billion, a price-to-earnings ratio of -154.70 and a beta of 0.71.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results 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 analysts' expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company's quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.07) earnings per share. On average, analysts expect that Atlassian Co. will post -0.58 EPS for the current year.

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.