Nordea Investment Management AB Acquires 124,793 Shares of Atlassian Corporation PLC $TEAM

Nordea Investment Management AB grew its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 17.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 846,483 shares of the technology company’s stock after acquiring an additional 124,793 shares during the quarter. Nordea Investment Management AB’s holdings in Atlassian were worth $137,774,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in TEAM. Physician Wealth Advisors Inc. raised its position in shares of Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after buying an additional 61 shares in the last quarter. Atlantic Union Bankshares Corp grew its position in Atlassian by 19,900.0% during the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after buying an additional 199 shares in the last quarter. Board of the Pension Protection Fund bought a new position in Atlassian during the 4th quarter worth $32,000. Geneos Wealth Management Inc. raised its holdings in Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after acquiring an additional 161 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Atlassian in the 3rd quarter valued at $57,000. 94.45% of the stock is owned by institutional investors.

Atlassian Stock Performance

Shares of Atlassian stock opened at $73.73 on Monday. The company’s 50 day moving average price is $96.26 and its two-hundred day moving average price is $137.20. The firm has a market capitalization of $19.45 billion, a P/E ratio of -102.40 and a beta of 0.94. Atlassian Corporation PLC has a fifty-two week low of $67.85 and a fifty-two week high of $242.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, February 5th. The technology company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the business earned $0.96 earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $94.81, for a total value of $726,718.65. Following the completion of the transaction, the chief executive officer owned 275,940 shares of the company’s stock, valued at $26,161,871.40. This represents a 2.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $94.81, for a total value of $726,718.65. Following the completion of the transaction, the director owned 275,940 shares of the company’s stock, valued at $26,161,871.40. This represents a 2.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 297,283 shares of company stock worth $40,674,300 over the last three months. 36.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TEAM. Citigroup reduced their target price on Atlassian from $210.00 to $160.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Oppenheimer dropped their price target on Atlassian from $275.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. Wall Street Zen raised shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Monday. BTIG Research reduced their price objective on shares of Atlassian from $220.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Finally, Guggenheim decreased their target price on shares of Atlassian from $225.00 to $190.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Twenty-two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $180.48.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.