MetLife Investment Management LLC Has $2.39 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

MetLife Investment Management LLC reduced its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,814 shares of the technology company’s stock after selling 81 shares during the quarter. MetLife Investment Management LLC’s holdings in Atlassian were worth $2,389,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in shares of Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after buying an additional 1,806,042 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Atlassian during the fourth quarter valued at about $687,486,000. Invesco Ltd. grew its holdings in shares of Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock valued at $595,171,000 after buying an additional 1,777,179 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Atlassian by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company’s stock valued at $528,851,000 after buying an additional 27,899 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Atlassian during the fourth quarter valued at about $296,697,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TEAM has been the subject of a number of analyst reports. Baird R W upgraded shares of Atlassian from a “hold” rating to a “strong-buy” rating in a report on Monday, April 14th. Cantor Fitzgerald upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $304.00 to $272.00 in a report on Wednesday, April 2nd. William Blair restated an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Mizuho boosted their price target on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Jefferies Financial Group cut their price target on shares of Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $301.90.

Insider Activity

In other news, CAO Gene Liu sold 568 shares of Atlassian stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.08, for a total value of $177,261.44. Following the completion of the transaction, the chief accounting officer now directly owns 52,142 shares in the company, valued at approximately $16,272,475.36. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $270.63, for a total value of $2,150,967.24. Following the completion of the transaction, the director now owns 333,816 shares of the company’s stock, valued at approximately $90,340,624.08. This trade represents a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 253,565 shares of company stock worth $64,045,540. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Up 1.6 %

TEAM opened at $228.68 on Monday. The company has a 50 day moving average of $229.25 and a 200 day moving average of $244.62. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The company has a market cap of $59.91 billion, a PE ratio of -170.66 and a beta of 1.07.

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

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.