ING Groep NV Sells 8,573 Shares of Atlassian Co. (NASDAQ:TEAM)

ING Groep NV reduced its position in shares of Atlassian Co. (NASDAQ:TEAM) by 25.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,272 shares of the technology company’s stock after selling 8,573 shares during the period. ING Groep NV’s holdings in Atlassian were worth $4,013,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of TEAM. Asset Dedication LLC boosted its position in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Trust Co. of Vermont boosted its stake in shares of Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Atlassian during the second quarter worth about $36,000. GAMMA Investing LLC increased its stake in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares during the period. Finally, Crewe Advisors LLC acquired a new stake in Atlassian during the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Stock Performance

TEAM opened at $240.04 on Friday. The company has a market cap of $62.51 billion, a price-to-earnings ratio of -157.92 and a beta of 0.71. The company’s fifty day moving average price is $186.37 and its two-hundred day moving average price is $174.14. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) EPS. On average, analysts expect that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Analyst Ratings Changes

TEAM has been the subject of several recent research reports. Morgan Stanley upped their price target on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Jefferies Financial Group raised their target price on Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays lowered their price objective on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. JMP Securities upgraded shares of Atlassian to a “hold” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and upped their price objective for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and an average price target of $244.21.

Insider Activity at Atlassian

In related news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $164.81, for a total transaction of $1,309,909.88. Following the sale, the chief executive officer now directly owns 182,804 shares in the company, valued at approximately $30,127,927.24. This trade represents a 4.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Gene Liu sold 785 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $240.00, for a total value of $188,400.00. Following the completion of the transaction, the chief accounting officer now owns 57,938 shares of the company’s stock, valued at $13,905,120. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 246,248 shares of company stock valued at $45,553,294. 38.55% of the stock is owned by insiders.

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.