Atlassian Corporation PLC $TEAM Shares Sold by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab lowered its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 37.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,226 shares of the technology company’s stock after selling 98,529 shares during the period. Danica Pension Livsforsikringsaktieselskab’s holdings in Atlassian were worth $29,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Carmignac Gestion grew its position in shares of Atlassian by 115.8% during the first quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock worth $177,707,000 after buying an additional 1,397,402 shares in the last quarter. First Trust Advisors LP raised its holdings in Atlassian by 48.4% in the first quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company’s stock valued at $160,377,000 after acquiring an additional 766,922 shares in the last quarter. KBC Group NV raised its holdings in Atlassian by 1,691.2% in the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock valued at $98,281,000 after acquiring an additional 1,359,624 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Atlassian by 111.7% in the third quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company’s stock worth $84,105,000 after acquiring an additional 247,540 shares during the last quarter. Finally, Artemis Investment Management LLP lifted its stake in Atlassian by 53.0% in the third quarter. Artemis Investment Management LLP now owns 461,537 shares of the technology company’s stock worth $82,749,000 after acquiring an additional 159,884 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Down 1.5%

TEAM traded down $2.30 on Friday, reaching $149.99. The company’s stock had a trading volume of 2,948,609 shares, compared to its average volume of 3,320,376. The company has a market capitalization of $37.97 billion, a price-to-earnings ratio of 416.65, a P/E/G ratio of 15.78 and a beta of 1.16. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $229.96. The company has a quick ratio of 0.78, a current ratio of 0.72 and a debt-to-equity ratio of 1.09. The stock has a 50 day moving average of $192.16 and a two-hundred day moving average of $120.09.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, November 5th. The technology company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.26. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Atlassian had a net margin of 1.28% and a return on equity of 33.53%. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the company earned $1.04 earnings per share. As a group, analysts forecast that Atlassian Corporation PLC will post 0.69 EPS for the current fiscal year.

Insider Activity at Atlassian

In related news, CRO Brian Duffy sold 1,851 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $319,204.95. Following the transaction, the executive directly owned 218,223 shares of the company’s stock, valued at $37,632,556.35. This trade represents a 0.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael Cannon-Brookes purchased 13,400 shares of the business’s stock in a transaction that occurred on Wednesday, November 11th. The shares were bought at an average price of $150.30 per share, for a total transaction of $2,014,020.00. Following the completion of the purchase, the chief executive officer directly owned 302,740 shares in the company, valued at $45,501,822. This represents a 4.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have sold 13,306 shares of company stock worth $2,326,622. Corporate insiders own 37.63% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on TEAM. Piper Sandler increased their price objective on shares of Atlassian from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 6th. Raymond James Financial set a $180.00 price objective on shares of Atlassian in a research report on Friday, August 7th. Royal Bank Of Canada boosted their target price on shares of Atlassian from $215.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, October 12th. Cantor Fitzgerald increased their target price on Atlassian from $220.00 to $252.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. Finally, Barclays cut their price target on Atlassian from $222.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, November 9th. Twenty-four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $209.48.

Atlassian Company Profile

Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams. Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration. Atlassian also offers cloud-based products and tools for distributed teams.