Forsta AP Fonden Sells 9,100 Shares of Atlassian Co. (NASDAQ:TEAM)

Forsta AP Fonden lessened its stake in Atlassian Co. (NASDAQ:TEAM) by 22.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,900 shares of the technology company’s stock after selling 9,100 shares during the quarter. Forsta AP Fonden’s holdings in Atlassian were worth $5,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Atlassian during the fourth quarter valued at $247,740,000. Price T Rowe Associates Inc. MD lifted its position in shares of Atlassian by 8.8% in the first 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 buying an additional 904,138 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Atlassian in the second quarter valued at $91,072,000. Vanguard Group Inc. lifted its stake in shares of Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Atlassian during the 1st quarter worth about $55,307,000. Institutional investors own 93.03% of the company’s stock.

Atlassian Trading Down 1.2 %

Shares of TEAM stock opened at $163.74 on Friday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The firm has a market capitalization of $42.58 billion, a PE ratio of -259.90 and a beta of 0.73. The stock has a fifty day moving average of $163.71 and a two-hundred day moving average of $176.93. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.21) earnings per share. As a group, research analysts expect that Atlassian Co. will post -0.58 EPS for the current year.

Insider Buying and Selling at Atlassian

In other news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $156.59, for a total transaction of $1,244,577.32. Following the completion of the transaction, the chief executive officer now owns 47,688 shares of the company’s stock, valued at $7,467,463.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the sale, the chief technology officer now owns 128,957 shares in the company, valued at approximately $18,838,038.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $156.59, for a total transaction of $1,244,577.32. Following the transaction, the chief executive officer now directly owns 47,688 shares in the company, valued at approximately $7,467,463.92. The disclosure for this sale can be found here. Insiders sold 240,159 shares of company stock worth $40,166,893 over the last ninety days. Company insiders own 40.48% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the topic of several research reports. Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Truist Financial dropped their price objective on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Mizuho reduced their target price on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Finally, StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $217.69.

Atlassian 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.