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

ING Groep NV decreased its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 84.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,944 shares of the technology company’s stock after selling 21,328 shares during the period. ING Groep NV’s holdings in Atlassian were worth $960,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Atlassian in the 3rd quarter valued at $606,000. Sequoia Financial Advisors LLC increased its position in shares of Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after buying an additional 520 shares in the last quarter. Fulton Bank N.A. bought a new stake in shares of Atlassian in the 4th quarter valued at $447,000. Paloma Partners Management Co bought a new stake in shares of Atlassian in the 3rd quarter valued at $1,588,000. Finally, Allworth Financial LP increased its position in shares of Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after buying an additional 47 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Macquarie upped their target price on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Cantor Fitzgerald upped their target price on shares of Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. The Goldman Sachs Group upped their target price on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian Trading Down 0.7 %

Shares of NASDAQ:TEAM opened at $284.06 on Tuesday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a market capitalization of $74.42 billion, a P/E ratio of -211.98 and a beta of 0.87. The company has a 50-day simple moving average of $273.10 and a 200 day simple moving average of $224.90. 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 (NASDAQ:TEAM) last issued its 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 net margin of 7.22% and a negative return on equity of 17.37%. Sell-side analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $297.51, for a total value of $2,364,609.48. Following the completion of the sale, the chief executive officer now directly owns 214,596 shares in the company, valued at approximately $63,844,455.96. The trade was a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the transaction, the chief accounting officer now owns 52,710 shares in the company, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,501 shares of company stock valued at $75,480,290 in the last three months. 38.55% of the stock is currently owned by company insiders.

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.