Atlassian Corporation PLC $TEAM Shares Sold by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab reduced its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 60.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 284,655 shares of the technology company’s stock after selling 428,402 shares during the quarter. Danica Pension Livsforsikringsaktieselskab owned about 0.11% of Atlassian worth $19,428,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in shares of Atlassian by 291.4% in the 4th quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock worth $1,256,535,000 after acquiring an additional 5,769,788 shares during the last quarter. Norges Bank purchased a new stake in shares of Atlassian during the fourth quarter valued at $323,526,000. Morgan Stanley boosted its position in shares of Atlassian by 52.4% in the 4th quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock valued at $781,841,000 after purchasing an additional 1,657,309 shares during the period. KBC Group NV boosted its position in shares of Atlassian by 1,691.2% in the 1st quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock valued at $98,281,000 after purchasing an additional 1,359,624 shares during the period. Finally, Carmignac Gestion increased its stake in Atlassian by 6,602.0% in the 4th quarter. Carmignac Gestion now owns 1,206,368 shares of the technology company’s stock worth $195,601,000 after purchasing an additional 1,188,368 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Stock Down 6.0%

TEAM stock opened at $90.60 on Wednesday. The company has a 50 day moving average of $89.03 and a two-hundred day moving average of $90.43. The company has a market cap of $22.99 billion, a price-to-earnings ratio of -109.16, a PEG ratio of 5.94 and a beta of 1.11. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $206.00. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the business posted $0.97 earnings per share. Atlassian’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, equities analysts anticipate that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on shares of Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 1st. TD Cowen lifted their price objective on shares of Atlassian from $85.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. BTIG Research reiterated a “buy” rating and set a $130.00 price objective on shares of Atlassian in a research report on Friday, July 10th. Robert W. Baird set a $120.00 target price on shares of Atlassian in a research note on Friday, May 1st. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Atlassian in a report on Monday, June 29th. Twenty-one research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.50.

Insider Activity

In related news, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the sale, the chief financial officer owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. The trade was a 2.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the completion of the transaction, the executive owned 227,691 shares in the company, valued at $20,426,159.61. This represents a 1.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 20,041 shares of company stock valued at $1,801,069. 36.66% of the stock is owned by corporate insiders.

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.