KBC Group NV Sells 66,869 Shares of Atlassian Co. (NASDAQ:TEAM)

KBC Group NV trimmed its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 21.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,712 shares of the technology company's stock after selling 66,869 shares during the period. KBC Group NV owned approximately 0.10% of Atlassian worth $61,261,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TEAM. Point72 Asset Management L.P. increased its holdings in Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company's stock valued at $110,972,000 after buying an additional 617,566 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Atlassian by 122.0% during the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company's stock worth $159,382,000 after purchasing an additional 551,500 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in Atlassian during the third quarter worth $57,149,000. Parnassus Investments LLC increased its position in shares of Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company's stock valued at $51,016,000 after buying an additional 245,286 shares in the last quarter. Finally, PointState Capital LP purchased a new stake in shares of Atlassian in the 3rd quarter worth about $30,566,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Stock Up 2.5 %

TEAM traded up $6.71 during trading hours on Tuesday, hitting $274.71. 2,529,928 shares of the company's stock were exchanged, compared to its average volume of 1,747,263. The stock's 50-day moving average is $258.81 and its two-hundred day moving average is $206.31. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $287.97. 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 has a market cap of $71.54 billion, a price-to-earnings ratio of -180.73 and a beta of 0.83.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter last year, the company posted ($0.07) earnings per share. The company's revenue for the quarter was up 21.5% compared to the same quarter last year. Sell-side analysts predict that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on TEAM. Citigroup boosted their price target on Atlassian from $255.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Scotiabank raised their price target on Atlassian from $175.00 to $250.00 and gave the stock a "sector perform" rating in a research note on Friday, November 1st. Macquarie initiated coverage on shares of Atlassian in a research report on Thursday, December 12th. They set a "neutral" rating and a $290.00 price target for the company. Raymond James increased their target price on Atlassian from $200.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Finally, KeyCorp lifted their price target on shares of Atlassian from $260.00 to $315.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $273.19.

Insider Activity at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $219.07, for a total value of $1,741,168.36. Following the sale, the director now directly owns 309,972 shares in the company, valued at approximately $67,905,566.04. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 4,560 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $1,028,052.00. Following the completion of the transaction, the president now owns 224,436 shares of the company's stock, valued at $50,599,096.20. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 272,188 shares of company stock worth $68,060,339 in the last ninety days. 38.55% of the stock is owned by company insiders.

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.