Voya Investment Management LLC Boosts Holdings in Atlassian Co. (NASDAQ:TEAM)

Voya Investment Management LLC raised its holdings in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 17,941.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,172,854 shares of the technology company's stock after buying an additional 2,160,810 shares during the period. Atlassian comprises approximately 0.5% of Voya Investment Management LLC's portfolio, making the stock its 28th largest position. Voya Investment Management LLC owned about 0.83% of Atlassian worth $528,693,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new stake in Atlassian during the 4th quarter valued at about $687,486,000. JPMorgan Chase & Co. lifted its position in Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock valued at $595,171,000 after purchasing an additional 1,777,179 shares during the period. Norges Bank bought a new position in shares of Atlassian in the fourth quarter worth approximately $296,697,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Atlassian in the fourth quarter worth approximately $234,547,000. 94.45% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $312.58, for a total transaction of $475,121.60. Following the completion of the sale, the president now directly owns 201,657 shares in the company, valued at approximately $63,033,945.06. The trade was a 0.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $185.61, for a total value of $1,475,228.28. Following the transaction, the director now directly owns 333,816 shares in the company, valued at $61,959,587.76. The trade was a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 261,513 shares of company stock valued at $66,183,631. 38.55% of the stock is owned by insiders.

Atlassian Stock Up 1.6 %

Shares of NASDAQ:TEAM traded up $3.60 during trading on Friday, reaching $228.68. 2,545,073 shares of the stock traded hands, compared to its average volume of 2,049,232. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The stock has a market cap of $59.91 billion, a P/E ratio of -170.66 and a beta of 1.07. The stock has a 50-day moving average of $229.25 and a two-hundred day moving average of $244.20. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, sell-side analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TEAM has been the subject of several analyst reports. BMO Capital Markets dropped their price target on shares of Atlassian from $360.00 to $295.00 and set an "outperform" rating for the company in a research report on Thursday, April 10th. StockNews.com lowered shares of Atlassian from a "buy" rating to a "hold" rating in a report on Monday, March 31st. Baird R W upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Oppenheimer upped their price target on Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Finally, Truist Financial cut their price objective on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Six research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $297.73.

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.