Atlassian Co. (NASDAQ:TEAM) Shares Sold by KBC Group NV

KBC Group NV reduced its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 318,581 shares of the technology company’s stock after selling 30,950 shares during the period. KBC Group NV owned about 0.12% of Atlassian worth $50,594,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Asset Dedication LLC lifted its stake in Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Trust Co. of Vermont lifted its position in shares of Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after buying an additional 174 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Atlassian in the 2nd quarter worth about $36,000. GAMMA Investing LLC grew its position in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares during the last quarter. Finally, Crewe Advisors LLC bought a new stake in shares of Atlassian during the 1st quarter valued at about $43,000. Institutional investors own 93.03% of the company’s stock.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 445 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $230.00, for a total transaction of $102,350.00. Following the completion of the sale, the chief accounting officer now directly owns 58,723 shares of the company’s stock, valued at approximately $13,506,290. This represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $244.84, for a total transaction of $1,945,988.32. Following the completion of the transaction, the director now directly owns 270,232 shares in the company, valued at approximately $66,163,602.88. This trade represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 246,248 shares of company stock worth $45,553,294. Insiders own 38.55% of the company’s stock.

Atlassian Price Performance

NASDAQ:TEAM opened at $249.99 on Friday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The business’s 50-day moving average price is $184.61 and its 200 day moving average price is $173.61.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company posted ($0.07) EPS. The business’s revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts predict that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Piper Sandler lifted their target price on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. KeyCorp upgraded Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective for the company in a research note on Friday, November 1st. JMP Securities upgraded Atlassian to a “hold” rating in a research note on Friday, August 2nd. Oppenheimer upped their price target on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, UBS Group lifted their price objective on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $244.21.

About Atlassian

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.