Elo Mutual Pension Insurance Co Boosts Holdings in Atlassian Co. (NASDAQ:TEAM)

Elo Mutual Pension Insurance Co raised its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,439 shares of the technology company’s stock after buying an additional 275 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Atlassian were worth $2,554,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Hollencrest Capital Management grew its position in shares of Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares during the period. Asset Dedication LLC grew its holdings in Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Trust Co. of Vermont increased its position in Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after buying an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Atlassian in the second quarter worth about $36,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Atlassian during the 1st quarter valued at about $40,000. 93.03% of the stock is currently owned by institutional investors.

Atlassian Stock Up 2.0 %

NASDAQ TEAM opened at $163.10 on Friday. The stock has a 50 day moving average price of $162.35 and a 200-day moving average price of $175.85. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The company has a market capitalization of $42.41 billion, a P/E ratio of -258.89 and a beta of 0.73. 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 issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 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 analysts’ expectations of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The business’s revenue was up 20.5% on a year-over-year basis. During the same period last year, the company posted ($0.21) EPS. As a group, equities analysts predict that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $165.03, for a total transaction of $1,311,658.44. Following the sale, the chief executive officer now directly owns 79,480 shares in the company, valued at $13,116,584.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $165.03, for a total transaction of $1,311,658.44. Following the transaction, the chief executive officer now owns 79,480 shares in the company, valued at $13,116,584.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the 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 directly owns 128,957 shares in the company, valued at approximately $18,838,038.56. The disclosure for this sale can be found here. Over the last quarter, insiders sold 231,451 shares of company stock worth $38,889,654. Corporate insiders own 40.48% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on TEAM. StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Morgan Stanley reduced their price objective on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Wells Fargo & Company cut their price target on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Finally, Robert W. Baird downgraded Atlassian from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $230.00 to $175.00 in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $217.69.

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.