AIA Group Ltd Buys 339 Shares of Atlassian Co. (NASDAQ:TEAM)

AIA Group Ltd boosted its position in Atlassian Co. (NASDAQ:TEAM) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,399 shares of the technology company’s stock after buying an additional 339 shares during the period. AIA Group Ltd’s holdings in Atlassian were worth $2,531,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Atlassian by 72.9% in 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 acquiring an additional 1,806,042 shares during the period. Norges Bank bought a new position in shares of Atlassian in the 4th quarter worth $296,697,000. Arrowstreet Capital Limited Partnership acquired a new stake in Atlassian in the 4th quarter valued at $234,547,000. Point72 Asset Management L.P. increased its stake in Atlassian by 760.5% during the 3rd 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 in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in Atlassian by 122.0% during the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after buying an additional 551,500 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Trading Down 2.7 %

Shares of Atlassian stock opened at $212.21 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $55.60 billion, a P/E ratio of -158.36 and a beta of 0.91. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The stock’s 50-day simple moving average is $268.47 and its 200 day simple moving average is $239.44.

Atlassian (NASDAQ:TEAM) last posted 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 net margin of 7.22% and a negative return on equity of 17.37%. As a group, research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $216.63, for a total value of $1,721,775.24. Following the sale, the chief executive officer now directly owns 7,948 shares of the company’s stock, valued at approximately $1,721,775.24. This represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm’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 transaction 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. This trade represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 263,033 shares of company stock worth $70,403,022 over the last 90 days. Corporate insiders own 38.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on TEAM shares. Raymond James reissued an “outperform” rating and set a $330.00 target price (up from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Canaccord Genuity Group lifted their price target on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Jefferies Financial Group lowered their price objective on Atlassian from $400.00 to $330.00 and set a “buy” rating for the company in a research note on Monday. KeyCorp lifted their target price on Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, William Blair reissued an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.73.

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.