KLP Kapitalforvaltning AS Invests $19.45 Million in Atlassian Co. (NASDAQ:TEAM)

KLP Kapitalforvaltning AS bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 79,900 shares of the technology company's stock, valued at approximately $19,446,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Assetmark Inc. boosted its position in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after acquiring an additional 41 shares during the last quarter. Allworth Financial LP boosted its holdings in 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 during the last quarter. GAMMA Investing LLC grew its stake 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 buying an additional 54 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Atlassian by 4.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company's stock worth $357,000 after buying an additional 56 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its position in shares of Atlassian by 1.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company's stock valued at $963,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

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Atlassian Stock Up 0.7 %

Shares of Atlassian stock traded up $1.60 during trading hours on Tuesday, hitting $236.22. The company had a trading volume of 1,531,275 shares, compared to its average volume of 1,939,939. The company's 50-day moving average is $271.21 and its two-hundred day moving average is $237.32. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. 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 has a market cap of $61.89 billion, a P/E ratio of -176.28 and a beta of 0.91.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data 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%. Analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TEAM. Cantor Fitzgerald increased their price objective on shares of Atlassian from $264.00 to $304.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. KeyCorp lifted their price objective on Atlassian from $315.00 to $365.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Oppenheimer increased their target price on Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Raymond James reaffirmed an "outperform" rating and issued a $330.00 target price (up from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Finally, Canaccord Genuity Group increased their price target 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. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $316.77.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 1,723 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total transaction of $526,962.32. Following the transaction, the president now directly owns 199,934 shares of the company's stock, valued at approximately $61,147,814.56. This trade represents a 0.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $234.38, for a total transaction of $1,862,852.24. Following the completion of the sale, the director now directly owns 39,740 shares of the company's stock, valued at $9,314,261.20. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,033 shares of company stock worth $70,849,302 in the last quarter. 38.55% of the stock is 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.