ING Groep NV Sells 21,328 Shares of Atlassian Co. (NASDAQ:TEAM)

ING Groep NV trimmed its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 84.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 3,944 shares of the technology company’s stock after selling 21,328 shares during the quarter. ING Groep NV’s holdings in Atlassian were worth $960,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TEAM. True Wealth Design LLC lifted its position in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the last quarter. Avion Wealth lifted its position in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after buying an additional 157 shares during the last quarter. Reston Wealth Management LLC bought a new stake in shares of Atlassian during the 3rd quarter worth $48,000. Kestra Investment Management LLC bought a new stake in shares of Atlassian during the 4th quarter worth $56,000. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after buying an additional 82 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Heather Mirjahangir Fernandez sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $275.00, for a total value of $825,000.00. Following the transaction, the director now owns 5,610 shares in the company, valued at $1,542,750. This trade represents a 34.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $261.73, for a total value of $2,080,230.04. Following the completion of the transaction, the chief executive officer now owns 174,856 shares in the company, valued at $45,765,060.88. This represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,501 shares of company stock worth $75,480,290. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Down 0.7 %

Shares of NASDAQ:TEAM opened at $284.06 on Tuesday. The business’s 50 day simple moving average is $273.10 and its two-hundred day simple moving average is $224.90. The firm has a market cap of $74.42 billion, a P/E ratio of -211.98 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, research analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the subject of several recent research reports. Robert W. Baird increased their price target on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Morgan Stanley increased their price target on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Cantor Fitzgerald increased their price target on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Truist Financial reissued a “buy” rating and issued a $350.00 price target (up previously from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Finally, Jefferies Financial Group increased their price target on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Company Profile

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.