Atlassian Corporation PLC $TEAM Stock Holdings Reduced by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab trimmed its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 37.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 162,226 shares of the technology company’s stock after selling 98,529 shares during the period. Danica Pension Livsforsikringsaktieselskab owned approximately 0.06% of Atlassian worth $29,086,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its position in Atlassian by 23.0% in the third quarter. Fortitude Family Office LLC now owns 289 shares of the technology company’s stock valued at $52,000 after purchasing an additional 54 shares during the period. Allworth Financial LP grew its holdings in shares of Atlassian by 0.5% during the 3rd quarter. Allworth Financial LP now owns 16,055 shares of the technology company’s stock worth $2,879,000 after purchasing an additional 74 shares during the period. Activest Wealth Management increased its position in shares of Atlassian by 372.4% during the 3rd quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock worth $25,000 after purchasing an additional 108 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Atlassian by 3.0% during the 3rd quarter. Parallel Advisors LLC now owns 3,851 shares of the technology company’s stock worth $690,000 after purchasing an additional 112 shares during the last quarter. Finally, Greenleaf Trust increased its position in shares of Atlassian by 3.7% during the 3rd quarter. Greenleaf Trust now owns 3,225 shares of the technology company’s stock worth $578,000 after purchasing an additional 114 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Bank of America upped their target price on shares of Atlassian from $175.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, August 31st. Jefferies Financial Group decreased their price objective on shares of Atlassian from $245.00 to $190.00 and set a “buy” rating on the stock in a report on Friday, November 6th. UBS Group reaffirmed a “buy” rating on shares of Atlassian in a research report on Friday, November 6th. Mizuho lifted their target price on shares of Atlassian from $215.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, October 15th. Finally, Wall Street Zen upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. Twenty-four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $209.48.

Atlassian Trading Down 1.5%

Atlassian stock traded down $2.30 during midday trading on Friday, reaching $149.99. 2,948,609 shares of the stock traded hands, compared to its average volume of 3,320,376. The firm has a market cap of $37.97 billion, a PE ratio of 416.65, a price-to-earnings-growth ratio of 15.78 and a beta of 1.16. The company has a current ratio of 0.72, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. The company has a 50-day simple moving average of $192.16 and a two-hundred day simple moving average of $120.09. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $229.96.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, November 5th. The technology company reported $1.65 earnings per share (EPS) 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 analyst estimates of $1.71 billion. Atlassian had a net margin of 1.28% and a return on equity of 33.53%. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.04 earnings per share. Research analysts expect that Atlassian Corporation PLC will post 0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In related news, CFO James Chuong sold 9,054 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total transaction of $1,561,362.30. Following the sale, the chief financial officer directly owned 279,218 shares of the company’s stock, valued at $48,151,144.10. This represents a 3.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 1,125 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $175.00, for a total transaction of $196,875.00. Following the sale, the chief accounting officer directly owned 56,807 shares in the company, valued at approximately $9,941,225. The trade was a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 13,306 shares of company stock worth $2,326,622. 37.63% of the stock is currently owned by company insiders.

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.