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

Nordea Investment Management AB raised its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 17.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 846,483 shares of the technology company’s stock after buying an additional 124,793 shares during the period. Nordea Investment Management AB owned 0.32% of Atlassian worth $137,774,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. grew its holdings in shares of Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after acquiring an additional 61 shares in the last quarter. GAMMA Investing LLC raised its holdings in Atlassian by 12.0% during the fourth quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock worth $100,000 after acquiring an additional 66 shares in the last quarter. Snowden Capital Advisors LLC boosted its position in Atlassian by 1.6% during the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $907,000 after purchasing an additional 71 shares during the last quarter. Cetera Investment Advisers boosted its position in Atlassian by 0.3% during the second quarter. Cetera Investment Advisers now owns 24,808 shares of the technology company’s stock valued at $5,038,000 after purchasing an additional 79 shares during the last quarter. Finally, ABN Amro Investment Solutions grew its stake in Atlassian by 3.4% in the third quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock valued at $392,000 after purchasing an additional 80 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Insider Buying and Selling at Atlassian

In related news, Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction on 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 sale, the director directly owned 275,940 shares in the company, valued at $26,161,871.40. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction on 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 chief executive officer directly owned 275,940 shares in the company, valued at approximately $26,161,871.40. This represents a 2.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 297,283 shares of company stock worth $40,674,300 in the last 90 days. Company insiders own 36.66% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TEAM. Cantor Fitzgerald dropped their price objective on Atlassian from $240.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 4th. Canaccord Genuity Group set a $185.00 target price on shares of Atlassian in a research note on Friday, February 6th. Piper Sandler restated an “overweight” rating and set a $200.00 target price (down from $280.00) on shares of Atlassian in a report on Friday, February 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research report on Wednesday, January 21st. Finally, Barclays cut their price target on shares of Atlassian from $215.00 to $165.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Twenty-two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.48.

Atlassian Stock Down 1.2%

Shares of TEAM opened at $73.73 on Monday. The firm has a market cap of $19.45 billion, a P/E ratio of -102.40 and a beta of 0.94. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.89 and a current ratio of 0.89. Atlassian Corporation PLC has a 52 week low of $67.85 and a 52 week high of $242.00. The firm’s 50-day simple moving average is $96.26 and its 200 day simple moving average is $137.20.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data 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 firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the business posted $0.96 earnings per share. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

About Atlassian

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.