KBC Group NV Decreases Stake in Atlassian Co. (NASDAQ:TEAM)

KBC Group NV trimmed its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 21.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 251,712 shares of the technology company’s stock after selling 66,869 shares during the quarter. KBC Group NV owned 0.10% of Atlassian worth $61,261,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TEAM. Dimensional Fund Advisors LP increased its holdings in Atlassian by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 150,393 shares of the technology company’s stock worth $26,597,000 after purchasing an additional 5,878 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Atlassian in the second quarter worth $677,000. Toronto Dominion Bank raised its holdings in Atlassian by 7.5% in the second quarter. Toronto Dominion Bank now owns 17,238 shares of the technology company’s stock valued at $3,049,000 after acquiring an additional 1,201 shares in the last quarter. AXA S.A. boosted its stake in Atlassian by 6.5% during the 2nd quarter. AXA S.A. now owns 13,702 shares of the technology company’s stock valued at $2,424,000 after acquiring an additional 841 shares during the last quarter. Finally, MBB Public Markets I LLC acquired a new position in Atlassian during the 2nd quarter worth $2,006,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Up 1.2 %

Shares of NASDAQ TEAM opened at $268.00 on Tuesday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $287.97. The stock has a fifty day moving average price of $257.68 and a two-hundred day moving average price of $205.02. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company earned ($0.07) earnings per share. Atlassian’s revenue was up 21.5% compared to the same quarter last year. As a group, equities analysts forecast that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 4,560 shares of the firm’s stock in a transaction dated 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 directly owns 224,436 shares in the company, valued at $50,599,096.20. This trade represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $192.56, for a total transaction of $1,530,466.88. Following the sale, the chief executive officer now owns 333,816 shares in the company, valued at $64,279,608.96. This represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 264,240 shares of company stock worth $65,922,247. Corporate insiders own 38.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TEAM shares. Wells Fargo & Company upped their target price on shares of Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Mizuho upped their price objective on Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Robert W. Baird lifted their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Citigroup upped their price target on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, Macquarie initiated coverage on shares of Atlassian in a report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $273.19.

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.