KLP Kapitalforvaltning AS Acquires Shares of 79,900 Atlassian Co. (NASDAQ:TEAM)

KLP Kapitalforvaltning AS acquired a new stake in Atlassian Co. (NASDAQ:TEAM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 79,900 shares of the technology company’s stock, valued at approximately $19,446,000.

A number of other institutional investors also recently bought and sold shares of TEAM. Point72 Asset Management L.P. increased its stake in Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after purchasing an additional 617,566 shares during the period. Two Sigma Advisers LP increased its stake in Atlassian by 122.0% in the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after purchasing an additional 551,500 shares during the period. Westfield Capital Management Co. LP acquired a new position in Atlassian in the third quarter valued at $57,149,000. Los Angeles Capital Management LLC boosted its holdings in shares of Atlassian by 12,047.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock valued at $55,521,000 after acquiring an additional 226,246 shares in the last quarter. Finally, Fisher Funds Management LTD purchased a new stake in shares of Atlassian in the fourth quarter valued at about $47,469,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the transaction, the president now owns 210,471 shares of the company’s stock, valued at $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the transaction, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at approximately $104,529,711.60. This represents a 3.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock valued at $71,015,177 over the last 90 days. Insiders own 38.55% of the company’s stock.

Atlassian Stock Up 0.5 %

Shares of NASDAQ TEAM opened at $227.34 on Monday. The firm’s 50-day moving average is $271.24 and its two-hundred day moving average is $236.81. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $59.56 billion, a PE ratio of -169.66 and a beta of 0.91. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TEAM. Wells Fargo & Company lifted their target price on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Scotiabank lifted their target price on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Jefferies Financial Group lifted their target price on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group lifted their target price on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $316.77.

Atlassian 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.